Ind.
Market intelligence, M&A, operator news, and the money moving through cannabis.
Section Editor
Caleb Quinn — The Insider
Market & Sales
All Market Data →
Industry
The Cannabis Wholesale Collapse Is Real — But It’s Not Happening Everywhere at Once
Caleb Quinn
·
May 29
Industry
Q1 Earnings Weren’t the Real Story for Cannabis Stocks — Here’s What Was
Caleb Quinn
·
May 15
Industry
Pesticide Anxiety Is Reshaping the Cannabis Market — and Operators Who Ignore It Are Falling Behind
Caleb Quinn
·
May 11
M&A Activity
All Deals →
Industry
Cannabis Stocks Are Going Nowhere Fast — Even as the Underground Market Counts Billions
Caleb Quinn
·
May 8
Industry
Treasury and IRS Signal 280E Relief Is Coming for Medical Cannabis Operators
Caleb Quinn
·
May 5
Industry
Cannabis Made $30 Billion Last Year. Operators Still Can’t Tell You What a Single Batch Actually Costs.
Caleb Quinn
·
Apr 30
Operations
All Operator News →
Industry
Aurora’s C$26.5M Safari Flower Deal Is About Germany, Australia, and Poland — Not Canada
Caleb Quinn
·
Apr 15
Industry
The Market Crashed and Cannabis Investors Had No Way to Hedge. That’s Not a Bug — It’s the Whole Problem.
Caleb Quinn
·
Apr 6
Industry
Cannabis’s Vape Hardware Is Mostly China-Sourced. A Year Into Trump’s Tariffs, Operators Can’t Do What Everyone Else Did to Survive.
Caleb Quinn
·
Apr 3
Finance & Investment
All Finance →
Industry
Tilray Q3 Earnings: Cannabis Sales Jump 73% Amid Revenue Miss
Caleb Quinn
·
Apr 1
Industry
Two of Cannabis’s Largest Private Operators Just Signaled the MSO Shakeout Is Real
Caleb Quinn
·
Mar 30
Industry
MJ Unpacked’s Atlantic City Agenda Is a Stress Test Wrapped in a Trade Show
Caleb Quinn
·
Mar 28
Deal Tracker
— Q1 2026
View All Deals →
| Acquirer → Target | Deal Size | Status | Date | Sector |
|---|---|---|---|---|
Curaleaf→PharmaCann |
$2.1B | Announced | Mar 19, 2026 | Retail / Multi-state |
Trulieve→3 FL Dispensaries |
$64M | Closed | Mar 15, 2026 | Florida Retail |
Jushi Holdings→Ascend Wellness |
All-stock | Pending | Mar 12, 2026 | Merger |
Acreage Holdings→Ohio Leaf Group |
$28M | Closed | Mar 8, 2026 | Cultivation |
Glass House Brands→NorCal facility |
$18M | Closed | Feb 28, 2026 | Real Estate |
Schwazze→New Mexico Organic |
$12M | Announced | Feb 21, 2026 | Wholesale / Brand |
◆ Data Feature · MSO Watch
The MSO Shakeout: Who’s Winning, Who’s Bleeding
Twelve months of relentless price compression, 280E tax pressure, and drying capital markets have sorted the multi-state operators into two camps: the consolidators and the consolidatees. Here’s where every major player stands going into Q2 2026.
Revenue growth YoY
Debt-to-revenue ratio
Top Performer
GTI
+11% revenue YoY · Q4 '25
Biggest Loser
MedMen
−67% revenue · license risk
Sector Avg. Gross Margin
41.2%
Down from 49% in 2023
Combined MSO Debt
$4.8B
Up $600M in 12 months
The Insider — Opinion & Analysis
The Insider
The Cannabis Wholesale Collapse Is Real — But It’s Not Happening Everywhere at Once
Wholesale cannabis prices are falling nationally, but the headline number masks a patchwork of regional stories — some markets are still holding, others are in freefall. Understanding which is which now matters more than ever for operators making capital decisions.
Read the full take →
May 29, 2026
The Insider
Q1 Earnings Weren’t the Real Story for Cannabis Stocks — Here’s What Was
Cannabis operators filed their Q1 financials this week, but analysts say the numbers on the page were largely beside the point. The bigger story — rescheduling, banking, and a margin crisis hiding in plain sight — played out everywhere except the earnings calls.
Read the full take →
May 15, 2026