In this episode of Higher Exchanges, we sit down with Sammy J, VP of Corporate Development at C21 Investments, to discuss the state of the cannabis industry four years into the Great Cannabis Drawdown. Sammy shares his insights on the key factors behind the market’s decline, including revenue drops, margin erosion, and overspending on growth.

We explore the potential catalysts for recovery, from value-driven opportunities to possible regulatory shifts with S3, SAFER banking, and the BSF lawsuit. Sammy also breaks down what investors should own when the next bull market hits—reform dependents vs. independents—and how the path to industry recovery may look different from past cycles.

Whether you’re an investor, operator, or industry watcher, this episode offers an in-depth look at what’s next for cannabis.