The excitement from 2017 has completely worn off and most companies have struggled to retain value this year as well.
In recent years, most of this market has moved to legalize the substance for medical or recreational use.
“If we were to pass this bill today … businesses would operate and be legal and regulated just like alcohol,” Representative Nancy Mace of South Carolina told Reuters.
Instead of a traditional takeover, the company was compelled to purchase the right to acquire the business in the future due to tight regulations.
Several states have legalized the substance to varying degrees, but it remains illegal on a federal level.
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