The nation’s marijuana industry has boomed during the pandemic. So far, 2022 is looking like a bust.
Weed sales hit $27 billion last year, nearly doubling figures from just two years earlier — and revenues are projected to double again over the next six years. Even pot supporters in Congress seemed well-positioned to dismantle decades-old restrictions.
But the still-green industry is mired in a financial funk: Stock prices have plummeted. Capital raises have crashed. And marijuana prices have slumped.
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