Some companies are reviewing their budgets, freezing hiring and trying to hold steady until the state’s recreational cannabis industry starts — and hopefully kicks off a surge in business.

Mitch Trellis, co-founder of Remedy, called it a “brutal” year for his dispensary business. Remedy, based in Columbia, underwent a rebranding and opened a second store in Baltimore County in 2022. But as the price of cannabis products steadily declined, Remedy has needed to review every cost associated with the business and “try to basically survive,” Trellis said.

“People think everyone in the weed business is getting rich, and they really don’t understand,” he said.

When the industry kicked off, dispensaries were outbidding each other for cannabis flower as growers struggled to meet demand. The average price of a gram of medical cannabis was nearly $16 at the beginning of 2018. [Read More @ The Baltimore Sun]