Canadian market updates:
Canopy Growth has ended its brick-and-mortar retail cannabis operations in Canada after selling 28 Tweed and Tokyo Smoke branded stores, and closing five more. The company plans to focus on achieving “profitability as a premium brand-focused cannabis and consumer packaged goods (CPG) company.”
US emerging market updates:
Vermont launched its recreational cannabis program on October 1st, with long lines and high demand. According to the MJBIZ Factbook, the total annual market is expected to rise to at least $120M by 2026.
US legacy market updates:
Governor Newsom recently signed a bill preventing California workers from being penalized for cannabis use in their personal lives. The law will go into effect January 1, 2024. Employers can still penalize employees for coming into work under the influence of cannabis.