Amid layoffs and falling sales, Colorado’s Cannabis Industry grapples with an economic downturn

For years, the cannabis industry flourished through a "green rush." Now, amid plummeting sales, Colorado's cannabis entrepreneurs are struggling as never before.

Jonathan Spadafora knew things were bad when April 20, 2022, the high holy day of cannabis, failed to deliver the windfall Colorado’s marijuana retailers were used to. Across the state, dispensary sales fell around 25 percent compared with 4/20 the year before. But it wasn’t until this past May, when demand continued to plunge, that Spadafora, president of Veritas Fine Cannabis, realized the industry was in a free fall.