California Marijuana Dispensaries Are Slashing Prices Before July Regulations Take Effect

Marijuana dispensaries across California are having a fire sale of sorts. With the Golden State’s new legal cannabis regulations taking effect July 1, retail shops selling edibles and other pot products are cutting prices to move old non-compliant inventory.

“People are buying stuff they don’t really need,” Scott Lambert, the chief executive of The OG Collective in Cathedral City, Calif., told The Desert Sun. “It’s just like Toys ‘R’ Us going out of business.”

Since California fully legalized marijuana at the beginning of 2018, cannabis businesses across the state have had six months to move toward new labeling and packaging standards, including information such as ingredients and batch numbers. With only six months to revamp their product offerings, some retailers already planned to cut their losses.

– Read the entire article at Fortune.