Harvest will divest California retail assets in a stock-heavy transaction that, if executed, would give Harvest 30% ownership of High Times. While there is some uncertainty surrounding this transaction due to regulatory approval, it appears to be a move by Harvest to "adapt until things make sense," by focusing on their core operations and markets.
New legislation has been introduced in the House to include cannabis companies in the next stimulus package. Boris Jordan, executive chairman of Curaleaf Holdings Inc., has commented on the parallels between the current economic environment and the lifting of Prohibition during the Great Depression. "Prohibition was lifted and alcohol sales were taxed because the federal government and the local governments needed the revenue. We expect over the net 12 to 18 months that significant changes in regulation will bring cannabis into the mainstream in the U.S. as an industry."
Florida's cannabis market is enormous and continues to grow rapidly. Weekly government reports provide unmatched transparency and offer a glimpse into the potential of a market that "makes sense."