California Cannabis Stocks in the Crosshairs of Uncertainty : ArticlePosted by On

A recent Sacramento Bee article (“California’s marijuana industry needs an intervention to avoid an ‘extinction event’”) gave a dire warning that an estimated 10,000 California marijuana growers could lose their licenses in the coming months to grow cannabis legally if state lawmakers fail to pass a bill designed to grant them an extension.

According to Sen. Mike McGuire, D-Healdsburg, of the more than 6,900 applications sent to the California Department of Farm and Agriculture, just four provisional licenses were issued and just 52 full annual licenses have been issued by all state agencies. McGuire was quoted as saying:

“This is the worst way to transition a multibillion-dollar agricultural crop, which employs thousands of Californians. Without legal licenses, there isn’t a legal, regulated market in California… This also means the flow of legal cannabis is…

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