With major cannabis companies posting massive losses and investor capital drying up, the fall of fail may be upon us.
Like California fire season, “Croptober”—the term for the annual flood of sungrown cannabis entering the market during the fall harvest and the subsequent price shock, as supply on hand far outstrips demand—is now a yearlong phenomenon.
But this year aims to be worse for everyone, as October is due to bring bad tidings for c-suite types and investors in Big Weed. With the third quarter closing Sept. 30 and the next earnings reports for publicly traded companies due beginning Oct. 15, “Croptober” is on track to be “Crashtober,” the autumn of major cannabis companies’ serious problems.
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