Currently, cannabis market growth is not as strong as many investors had hoped for. It has been reported that since March, cannabis stocks have lost two thirds of their value. While economic growth is never guaranteed for any business, remedies available to floundering cannabis businesses are more limited than those offered to non-cannabis businesses.
The Department of Cannabis Regulation (DCR) has just confirmed that it is now processing requests for ownership changes to existing Phase 2 (non-retail) cannabis licenses in Los Angeles. This long-awaited news is a game-changer for savvy investors and license holders alike, as it opens opportunities to buy or sell shares of the 139 cultivation, manufacturing, and distribution businesses that are licensed under Phase 2 in Los Angeles.
This blog is not intended as legal advice and should not be taken as such. The possession, use, and/or sale of marijuana is illegal under federal law.
Our firm is dedicated to criminal defense and medical marijuana law. Our medical marijuana practice consists of advising clients on obtaining state and local licenses and permits, and zoning. Our criminal practice includes cases ranging from drugs to violent crime. Our team is committed to handling each matter with the utmost care.
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