Huge Blowout Sale for Marijuana in California
Regulations being phased in 6 months after the state broadly legalized marijuana require that the drug sold after Saturday meet strict quality standards, so retailers unloading untested inventory are offering blowout prices.
Deep discounts on everything from edibles to joints reflect the last days of the heady first phase of legal recreational marijuana. They could be followed by empty shelves as many stores scramble to restock with properly tested and packaged products.
“You can smell it. There’s a certain desperation from stores that bought too much and they have to dump it,” said John Atari, CEO of Source Cannabis Farms, a licensed cultivator in Los Angeles. “There’s going to be a big shortage of clean product come July 1.”
Testing will also examine concentrations and potency of the ingredient that gives users a high.
The change in rules was part of the state’s decision to allow the industry in its legal infancy to get a running start at the beginning of the year.
Shops were given 6 months to burn through supplies of marijuana grown and cookies and other products made without strict testing requirements.
Some shops prepared for the new regulations by gradually replacing pot they sold with products that pass the tests.
Any marijuana harvested this year or for sale July 1 must meet quality and safety standards or be destroyed.
Latest posts by Paul Ebeling (see all)
- The Street’s Key Stock Analysts Research Reports - November 22, 2019
- Gold Forecast: Bullish, Bearish… - November 22, 2019
- Replica of da Vinci’s Mona Lisa Hammered for 552,500 Euros - November 22, 2019