Trying to describe the current state of the California cannabis industry is like trying to describe an acid trip to someone who's never done psychedelics. Only those who've worked within this industry can possibly know what it feels like, where the last six years of legal adult-use sales have been a real rollercoaster ride for everyone involved.
Yet not everyone has enjoyed the trip. Far from it. As of this writing, another large California cannabis company may be going into receivership which is a court-ordered process similar to bankruptcy protection. Many pioneering companies are gone or resemble a shell of what they used to be.
Those few companies that are riding high on the rollercoaster feel optimistic while those that are down feel pessimistic about the industry. Many folks have conflicting feelings about the state of affairs in the California market. The industry resembles a kaleidoscope—just when you think you see the image of it clearly, it changes.
Read more at Forbes.