Massachusetts also saw a sharp decline in January, with adult-use sales falling 11.5%, up 29% from a year ago, and medical declining 18%, down 11% from a year ago.
420 Opportunity ended the week valued at $97,108, up 16.6%.The model portfolio, down 13.8% in 2021 after a 35.6% gain in 2020, is up 6.9% in 2022 and has increased 94.2% since April 2014 despite the large loss in the index since then.
Disappointment over the slow pace of federal reforms or the move towards legalization was a factor, but decreasing growth in cannabis sales, regulatory delays in several states and the implosion of the wholesale flower market in California played roles as well.
The bull market that began in March 2020 after the pandemic and the capital crunch that followed the vaping crisis in 2019 appears to be intact for the American cannabis operators, which continue to trade sharply higher than where they traded in the summer of 2020 despite large declines from the peak in February.
We have seen several investments into American cannabis companies, mainly by Canadian LPs, but, looking ahead, strategic investment through creative financial structures will likely extend to CPG companies in 2022.
At the federal level, the FDA , this is very different from what the developing cannabis sector faced just a few years ago: potential crackdowns against state legalization.
While Canada remains the largest federally legal cannabis market, many other countries have medical programs, including Argentina, Chile, Colombia, Ecuador, Peru and Uruguay in South America.