Addison Morris’ Post

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Founder & CEO at Women's Cannabis Chamber of Commerce

“It’s like the wind in our cannabis sails in Colorado has just been sucked all the way out,” said Wanda James, founder of Denver dispensary Simply Pure, one of the first recreational dispensaries in the state. A messy assortment of factors has led to the pioneering industry’s struggles. A supply glut caused weed prices to plummet in the wake of the pandemic. The spread of cheap, largely unregulated intoxicating hemp-derived products further heightened competitive pressures. And marijuana remains federally illegal, subjecting operators to sky-high taxes and costly regulations. But more than any other factor, Colorado’s market has been sapped by the rapid spread of legalization across the country. Neighbors New Mexico and Arizona are among the 24 states with their own adult-use legal marijuana markets, wreaking havoc on the business plans of dispensaries on Colorado’s southern border. Tourists who once flooded the state for the opportunity to legally experience Rocky Mountain highs have largely disappeared as the novelty has worn off. Even Texans aren’t driving north to buy weed anymore, satisfied with the proliferation of intoxicating hemp products in their own state. #coloradocannabis #cannabisindustry #simplypure #wandajames #cannabismarket #coloradocannabismarket https://lnkd.in/gpGxG8mA

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