July 6, 2022: Last week, California’s onerous cultivation tax ($161/lb.) was officially eliminated. While far from solving all the issues for California operators, the tax change meaningfully reduces the break-even threshold for growers and particularly those with the biggest scale in capacity.
Multi-State Operators (MSO) traded higher on Tuesday after Cantor Fitzgerald categorized four companies as "top picks." In a recent industry report, Pablo Zuanic analyzed the context of MSOs and offered insight on trends driving financial value. Although MSOs ETF fell 25% in June and 49% over the last three months (vs.