After years of rapid expansion – and, more recently, swift exits – some of the nation’s largest cannabis multistate operators have continued to streamline operations this year, according to MJBizDaily’s latest update on the operations of several of the nation’s largest MSOs.
Two of the country’s biggest MSOs, Florida-based Trulieve Cannabis and Chicago-based Cresco Labs, exited state legal cannabis markets in the past five months, reflecting ongoing efforts to strengthen balance sheets as the industry awaits widely anticipated federal reform and improved investor sentiment.
Pressured by a tough macroeconomic environment and the slow pace of federal cannabis reform, MSOs began exiting challenging state markets over the past year and aiming to “optimize” operations in more lucrative markets.
Cresco Labs exited Arizona and Maryland in recent months, a company spokesperson confirmed.
The company has retail operations in seven states, resulting in $191 million in revenue in the
Read full article on Marijuana Business Daily