New Jersey MMJ Business News
After 2021’s record-breaking year for mergers and acquisitions, many marijuana industry insiders predicted that 2022 would be an even more active year.
But so far, that’s not been the case.
Despite the promise of social equity leveling the playing field in the marijuana industry, most diversity applicants and license holders believe the cards are stacked against them.
From Los Angeles to Boston, common obstacles include limited access to capital, complicated application processes, real estate priced well above market rates and bureaucratic logjams.
New Jersey adult-use cannabis businesses recorded nearly $79.7 million in total sales between April 21 and June 30 of the state’s second fiscal quarter.
Despite a relatively smooth start to recreational cannabis sales in April, industry officials in New Jersey continue to fret over possible supply shortfalls that could disrupt the East Coast’s newest adult-use market.
New Jersey regulators fined five marijuana multistate operators a total of $360,000 for allegedly making nearly 3,200 adult-use sales in April during hours that were to be set aside for medical cannabis patients.
Most of the largest U.S. marijuana multistate operators experienced revenue declines in the first quarter of 2022 versus the previous three months, reflecting seasonal factors, declining cannabis prices and inflationary pressures that could be curbing consumer spending.
Employees at the Wonderland Smoke Shop, a marijuana accessories store in West Berlin, New Jersey, submitted a petition to unionize.
