10+ Weed Businesses Shutting Down Every Month in MA? – Dirt Cheap Rates Killing the Money Flow

10+ Weed Businesses Shutting Down Every Month in MA? - Dirt Cheap Rates Killing the Money FlowYo, what’s good, fam? It’s ya boy Dan, droppin’ some knowledge ’bout the cannabis industry, specifically in Massachusetts. You know, it ain’t all sunshine and rainbows out here, despite what those Schedule 3 enthusiasts might be sayin’. The reality is grim, my dudes. Cannabis.net put out a piece called “Selling Cannabis Licenses for Pennies on the Dollar” exposin’ the harsh truth ’bout the Oregon cannabis industry. And guess what? The same sh*t is goin’ down in Massachusetts, where wholesale prices are droppin’ so low that retailers can’t even stay in business no more.

I’m talkin’ ’bout a straight-up massacre of marijuana retailers and producers in Massachusetts. In 2023 alone, at least 17 cannabis businesses had to surrender their licenses or got them revoked. That’s crazy, right? But hold up, not all hope is lost. Some of these businesses ain’t shuttin’ down completely. They might’ve stopped operatin’ in the adult-use market but are still holdin’ it down in the medical marijuana sector. And there might actually be more closures than we know ’cause some companies are lookin’ to sell their licenses instead of just givin’ up entirely.

Now, let’s talk numbers, my homies. The drop in cannabis prices is the main culprit behind this chaos. Back in 2021, you could cop an eighth of marijuana in Massachusetts for a cool $45. But now? It’s only goin’ for around 20 bucks! Jennifer Ngo, Chief of Staff at Bud’s Good, a retail chain, called it a “buyer’s market.” Sh*t’s gettin’ real out here.

But wait, there’s more! Out-of-state residents ain’t showin’ as much love to Massachusetts anymore. Can you blame ’em though? With neighboring states like Connecticut, New York, and Vermont legalizin’ weed, why would they bother crossin’ state lines? Even the big dogs like Trulieve Cannabis from Florida said peace out to Massachusetts earlier this year. They know there’s better opportunities elsewhere.

2024 Blue Dream Seed Sale at ILGM

But yo, it ain’t all doom and gloom. Massachusetts still got 300 licensed marijuana stores and 120 producers holdin’ it down. And this economist and author named Robin Goldstein thinks they’ll find a way to adapt, makin’ their operations more efficient and cost-effective. Basically, they gonna figure out how to survive in this wild market.

But here’s the thing, my peeps. Prices ain’t done droppin’. Goldstein predicts they gonna keep fallin’, so buckle up for even more adjustments in the cannabis industry. It’s like a never-ending rollercoaster ride, fam.

Now let’s talk solutions ’cause we can’t just be complainin’ ’bout problems all day. Some businesses in Massachusetts are switchin’ things up to survive. They’re ditchin’ the adult-use market and focusin’ on medical marijuana operations instead. It’s a smart move, playin’ to a specific segment with different needs and regulations. These companies ain’t goin’ down without a fight, y’all.

But that ain’t the end of the story, my dudes. The low prices are affectin’ everyone in the cannabis economy. Retailers gotta rethink their whole business model to stay afloat. They gotta find ways to cut costs or diversify their products to make that paper. And consumers? Well, they gotta decide if the lower prices are worth it or if they gonna compromise on quality. It’s a whole new world out there, my friends.

Cheap Cannabis Seeds Supreme

And let’s not forget ’bout industry consolidation and regulatory responses. The little guys might struggle and end up closin’ shop, while the big players or newbies swoop in to take over. At the same time, the powers that be gotta figure out how to keep this cannabis market sustainable. It’s a delicate balance, my peeps.

And don’t even get me started on the competition from neighboring states. Massachusetts used to be the sh*t for cannabis tourism, but now with other states legalizin’, it’s losin’ its appeal. Trulieve Cannabis ain’t the only one bouncin’, y’all. More companies gonna follow suit and exit the Massachusetts scene. It’s a tough pill to swallow, but that’s the reality we livin’ in.

So, here’s the bottom line, fam. The Massachusetts cannabis industry is strugglin’ hard ’cause of them low wholesale prices. But some businesses ain’t goin’ down without a fight, switchin’ to medical marijuana operations and hustlin’ to survive. The whole market is changin’, consumers gotta adapt, and regulators gotta keep up. And let’s not forget ’bout the competition from neighboring states. It’s a crazy ride, my dudes, and we all just tryna make it to the next stop.

Oh, and before I bounce, did y’all hear ’bout Oregon? They sellin’ cannabis licenses for pennies! Yeah, it’s a whole mess over there too. But that’s a story for another day. Stay tuned, my peeps.

ILGM Free Grow Bible

Peace out,

Leave a Comment