Canopy Growth is closing down greenhouses and laying off hundreds | CNN Business

Canopy Growth, the world’s largest cannabis company, is closing 3 million square feet of greenhouses and laying of hundreds of employees. Numerous North American companies have run in to the same issue of the current cannabis market falling below what it was believed to be. The legalization process has been moving slower than anticipated, and news laws such as regulations permitting outdoor cultivation in Canada have harmed the greenhouse investment. These scale-backs will hopefully increase current and long-term profitability, with many companies hoping to expand following more legalization.

Source: https://www.cnn.com/2020/03/04/business/canopy-growth-cannabis-production-closures-layoffs/index.html