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California’s cannabis market is slipping — and it’s more than just a seasonal dip. On today’s episode of Trade To Black, host Shadd Dales breaks down new Q1 2024 data showing a sharp 5% drop in sales quarter-over-quarter and 8% year-over-year — the biggest pullback we’ve seen in the state since the pandemic era. So what’s driving the decline? It’s not demand — it’s economics. Consumers are trading down to cheaper products, spending less often, and navigating the same inflation and financial stress hitting every other industry. But it’s not just consumers feeling the crunch. Retailers, cultivators, and legacy operators are cutting costs, laying off staff, and repositioning toward value brands. Some are calling it a cannabis recession — in the largest legal market in the world. This episode explains: • Why consumers are shifting to mid- and low-tier products • How oversupply and price compression are reshaping the business model • What California’s trends say about the future of other states like Michigan, Colorado, and New Jersey • Why federal reform — especially tax and banking — has never been more urgent If California’s market is cracking, the rest of the U.S. needs to pay attention. What’s happening now could set the tone for the next phase of American cannabis. #CaliforniaCannabis #CannabisRecession #CannabisSales #MJBizDaily #CannabisInvesting #TradeToBlack #CannabisRetail #CannabisMarketTrends #CannabisConsumerBehavior #CannabisPricePressure Want to see last week's recap? • The Week’s Biggest Cannabis Headlines – Fr... Want to see more Cannabis Reform videos? • Is Pennsylvania the Next Big Cannabis Mark... • Texas Vetoes Hemp Ban: Here’s What It Mean... • Alcohol Sales Are Dropping — Cannabis May ... • Mike Tyson Joins Cannabis Rescheduling Fig... Want to be updated on Cannabis, Small Cap, AI, and Crypto? Subscribe to our Daily Baked in Newsletter! https://newsletter.thedalesreport.com... Find us as well on Facebook, Twitter, Instagram, LinkedIn and on the Web: Facebook: / thedalesreport Twitter: / thedalesreport Instagram: / dalesreport LinkedIn: / the-dales-report Apple Podcasts: https://tinyurl.com/TDRTradetoBlackon... Spotify: https://tinyurl.com/TDRTradeToBlackon... Website: https://thedalesreport.com/ For copyright matters, please get in touch with us at: [email protected] All views on the Trade To Black podcast and the guests on this podcast are purely opinions. You should not treat any opinions expressed by us or our guests as investment advice. The views on this podcast are solely intended to be informational and are not investment advice. Please go to our website for a full list of disclosures and details of any client relationship we have. https://thedalesreport.com/website-te...