Federal legalization remains elusive for California's struggling cannabis industry, leaving it to grapple with high prices, job losses, and ongoing financial instability.
The likelihood of California cannabis companies benefiting from federal legalization diminishes as Republican control further complicates prospects for reform.
'The bad news continues to pile up: bankruptcies, layoffs, cutbacks, high prices, thin profit margins, and enormous losses,' illustrating the distress within California's marijuana market.
John Schroyer expresses looming concern: 'how long until more of them join the conga line into receivership and bankruptcy?' indicating dire future for many firms.
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