Prior to Covid there had been very little merger and acquisition activity in the cannabis industry as it was plagued with multiple newcomers entering the industry flooding the marketplace with product and dropping prices. With the onset of Coronavirus pandemic more individuals are working from home as well as are under additional stress, thereby greatly increasing the demand for legal cannabis and cannabis related products, spiking demand. This increase in sales, along with anticipation from companies that cannabis will be legalized on a federal level after the presidential election, has led entities already in the cannabis marketplace to look to expand their presence through acquisitions…and gain a stronger foothold in the industry before large players in the food and agribusiness industries start seeing opportunity in entering the business. Although the majority of business sectors have been negatively impacted by Covid-19, the cannabis industry has been one of the few rising stars coming out of these unprecedented times.
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