In this episode of The High Rise, Cy and Emily delve into the latest cannabis news and industry updates. They start by discussing the significant development that the U.S. Department of Health and Human Services (HHS) is conducting an administrative review of cannabis scheduling, with plans to present President Joe Biden with a federal cannabis scheduling decision later this year, as revealed by HHS Secretary Xavier Becerra. Join our hosts as they analyze the potential implications of this review and its impact on the cannabis landscape.
Additionally, Cy and Emily address the recent news of the closure of HERBL, a prominent California cannabis distributor. They examine the reasons behind HERBL's shutdown and use it as a starting point to explore the broader concept of industry shakeouts. Our hosts shed light on how businesses in any industry, including cannabis, undergo natural cycles of restructuring and consolidation. Stick around to end of this episode as they discuss the lessons and implications of industry shakeouts for the cannabis sector.
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