Cannabis Retail Real Estate: Location, Location, Regulation—and Why Rent Stays High Until 2028
Cannabis retail landlords charge 3-5x market rent due to lack of banking access. Post-Schedule III banking reform removes landlord leverage. Smart operators locking in 5-year leases now.
Federal vs State Cannabis Tax Arbitrage: The 280E Loophole Getting Tighter
IRC Section 280E eliminates deductions for cannabis sellers = effective 40%+ tax rates. Schedule III moves this to normal tax treatment. Smart operators already restructuring now. Those who wait to restructure post-Schedule III lose $5-50M in transition taxes.
Cannabis IP Strategy: Who Owns the Brands That Matter in 2026
Brands matter more as retail consolidates. Trulieve, Surterra, Verano control 60% of national mind-share. Independent cultivators building legacy strains = next acquisition targets. IP licensing will drive 20%+ of operator margins by 2028.
State Marijuana License Valuations: Why Colorado Licenses Worth 5x More Than California
Cannabis license arbitrage is dead, but regulatory clarity gap creates value gap. Colorado/Illinois licenses worth 4-6x face value. California licenses worth 1-2x due to supply glut. Market is pricing in 2027 Schedule III differently by state.
Cannabis Operator Balance Sheet Reality Check: Who Has Runway, Who Doesn’t
Q4 2025 cannabis operator balance sheets show clear winners/losers. GTI’s cash position = 2.1 years runway. SNDL burning $50M+ annually. CURLF restructuring aggressively. Implications for M&A wave hitting in 2H 2026.
Why Curaleaf (CURLF) Needs a Strategic Announcement in Q2
CURLF needs a strategic move in Q2. Without it, they’ll keep getting lapped by better-managed peers.
Green Thumb Industries (GTI): Q1 Guidance Watch
GTI earnings next month. Same-store sales, margins, and guidance will set the tone for the whole sector.
The Problem with Cannabis Private Equity Valuations
PE valuations in cannabis don’t match fundamentals. Why overpayment now = market pain later.
Canopy Growth (CGC): Turnaround Play or Penny Stock Trap?
CGC trades like a penny stock. Is it a turnaround play or a trap? Watch these metrics before buying.
Cannabis Licensing Reform: States Accelerating Access Programs
Ten states streamline cannabis licensing. Implications for MSO expansion and retail consolidation accelerating.