How Much Cannabis Does America Really Grow And How It Compares To Other Big Crops: Answer Might Surprise You
Portfolio Pulse from Maureen Meehan
Leafly Holdings, Inc. (NASDAQ: LFLY) has released its annual Cannabis Harvest Report, revealing that cannabis is one of the highest-value crops in some states. The report synthesizes licensing reports, crop production totals, and sales and tax figures from 15 states with operating cannabis markets. It also highlights the challenges faced by cannabis farmers due to federal prohibition. However, this could change as the Department of Health and Human Services recommends reclassifying marijuana as a Schedule III drug. The report also reveals that in 2022, U.S. cannabis farmers have legally grown approximately 2,834 metric tons of cannabis, supporting more than 13,297 American farms in 15 legal states.
September 05, 2023 | 5:27 pm
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NEUTRAL IMPACT
Leafly's report highlights the potential growth of the cannabis industry, which could positively impact the company. However, the company's performance is also tied to regulatory changes, which are currently uncertain.
Leafly's report shows the potential for growth in the cannabis industry, which could positively impact the company's performance. However, this is contingent on regulatory changes, which are currently uncertain. Therefore, the short-term impact on LFLY's stock price is neutral.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100