New Mexico’s cannabis industry — which officials say has matched initial revenue projections but continues to experience significant growing pains — celebrates its first birthday Saturday.
April 1, however, is no joke for the fledgling business that now numbers more than 600 retail stores and brought in about $40 million in its first 11 months of operation (March figures are not yet available).
However, despite the strong start, cannabis has faced challenges — including a reported invasion of marijuana produced out of state and difficulties on the regulatory front — that many observers say make it difficult to chart exactly what may happen next, particularly for smaller retailers who jumped into the industry when the legalization of recreational use became official.
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