Source: SFGate
“Southern California mega cannabis grower Glass House Brands has skyrocketed to a valuation of over $1 billion for the first time, a striking turn of fate for a company that was facing existential panic and the prospect of federal charges just a year ago. … Last July, the Trump administration targeted Glass House’s two massive growing facilities in Santa Barbara and Ventura counties with a militarized immigration raid that left one worker dead and over 360 workers arrested. … But instead of charging the company’s executives, the Trump administration sent Glass House a lifeline. In April, Trump’s attorney general signed an order reclassifying state-licensed medical marijuana from Schedule I to Schedule III, moving it to a far friendlier designation. While the exact impacts are complicated and not certain, it’s likely to cut taxes for companies and could lead to legal interstate sales of medical marijauna.” (06/26/26)
https://www.sfgate.com/cannabis/article/glass-house-billion-dollars-22320798.php