What Investor Tips Can You Provide to Avoid the Biggest Challenges to Building a Profitable Business in New Mexico in 2024?
I think that it’s certainly, this is a much bigger question than I as an investors can answer realistically, but the little bit that I’ve seen, not only here, but in Canada also. Anytime you’ve got an uncertain regulatory environment, investors are going to stay away from it because they don’t want those surprises right now, much like Colorado, when Colorado went recreationally legal, there was a big shortage of product. Again, supply started flooding in, and then there was an oversupply of product. Same thing happened in Oregon when I think that it’s certainly, this is a much bigger question than I as an investors can answer realistically, but the little bit that I’ve seen, not only here, but in Canada also.
Same thing happened in Oregon when New Mexico’s cannabis laws went recreationally legal, I think it was two years ago in the spring, there was a huge shortage and it affected everything from the availability of edibles to certain strains. It was very hard to get sativa for a number of weeks. I think that New Mexico has passed that part, and I think the supply has caught up with the demand. I’ve known a couple of companies and I’ve spoken with a couple of companies that tried to come into New Mexico and start from scratch, start to grow, and I think that’s good. I think that competition always helps. It always takes the level of product up, but New Mexico is a funny environment. It’s small enough where it still means you have to know people. In the beginning, investors want certainty right now.
What Will Happen if Cannabis is Rescheduled From Schedule 1 to Schedule 3 in New Mexico?
I think will be I that will kill the business. Quite frankly, they’ve had marijuana scheduled as one since, gosh, I don’t know, 1970 if not earlier. That was a problem, and just moving it to Schedule three is not going to help the business in any way, shape or form. It’s not going to make it legal nationally, and that’s always going to be a problem. It’s the problem with the banking. It’s a problem with interstate investment. So I don’t know. I think that there are still a lot of people that want this thing to stay schedule one. I don’t know that that’s going to change anytime soon. That’s certainly a problem when it comes to big time investing and listing on the NASDAQ or whatever the O T C. So until there’s public investment in the business, it’s still going to stay somewhat insular, I guess is the word for it.