Trulieve Cannabis, the predominant player in Florida’s medical marijuana industry, has experienced a huge drop-off in milligrams of CBD sold in Florida over the past eight weeks.
The trend accelerated this week, according to data analysis from Marijuana Business Daily‘s Investor Intelligence analysts. Trulieve’s market share of CBD sales has fallen nearly 20 percentage points since mid-December.
The CBD plummet is not a statewide issue affecting all or even most competitors. Total milligrams of CBD sold in Florida is relatively flat at around 2 million to 2.2 million milligrams of CBD sold per week.
The drop came as Florida’s Department of Agriculture and Consumer Services started to oversee products containing hemp and CBD ingredients ingested by humans and animals.
Tallahassee-based Trulieve has not responded to analyst questions about the CBD drop.
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