MJ Biz rounds up the retreat beginning in the sector. They write, “The widespread cutbacks this week by Acreage Holdings, MedMen Enterprises and 4Front Ventures also call into question the overall health of the marijuana industry as the U.S. economy appears headed into a sharp downturn.”

But as the coronavirus pandemic worsens in the U.S. and destabilizes both the marijuana and mainstream markets, many cannabis businesses have pivoted to restructuring, eliminating inefficiencies and pulling back on plans for expansion.

“Coronavirus conditions are prodding cannabis companies to take even more aggressive steps to reduce expenses, lower head count and sell noncore assets in a bid to accelerate their path to profit,” said Craig Behnke, equity analyst at Marijuana Business Daily’s Investor Intelligence.

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Big cannabis companies scale back amid coronavirus, raising questions about industry’s overall health