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Wells Fargo Equity Research has released the Cannabis Cultivator Survey Edition 2 report based on data collected with Cannabiz Media in Fall 2022 through one of the most comprehensive outreach programs to cannabis cultivators.
The second edition of the survey report includes new and updated data from cannabis cultivators in seven key states as well as comparisons to data reported in the Cannabis Cultivator Survey Edition 1 that was collected during Spring 2022 and released in June of the same year.
After analyzing the Fall 2022 data, the key takeaway reported by Wells Fargo is that there is “no recovery in sight,” which is a change from the key takeaway from the Spring 2022 report that stated, “this recovery will take longer.” Wells Fargo is “sidelined” on Scotts Miracle Grow, Grow Generation, and Hydrofarm Holdings Group stocks, and has kept the rating of all three to Equal Weight.
The full Cannabis Cultivator Survey Edition 2 includes 40 pages and 140 charts of data and analysis. We've highlighted several of the charts in the report below that focus on profitability, sentiment, likelihood to exit, and major causes of frustration. You can download the full report here.
Cannabiz Media conducted a survey outreach program to thousands of growers and ultimately, connected with 350 licensed cannabis cultivators in seven key US states including California, Colorado, Massachusetts, Michigan, Oklahoma, Oregon, and Washington.
The survey was conducted via email and direct calling during October through December 2022 across a wide variety of grow environments (indoor, outdoor, greenhouse, etc.) and cultivation sizes (several hundred sq. ft. to more than 100,000 sq. ft.).
A total of 350 responses were received from seven states representative of the largest cannabis markets today: 87 from California, 11 from Colorado, three from Massachusetts, five from Michigan, 157 from Oklahoma, 41 from Oregon, and 46 from Washington.
You can download the full report here.
We’ll continue to survey cultivators in the months ahead to see how their sentiment and economics change. Both this survey and the Spring 2022 survey provide a solid foundation for future studies and trend analyses.
Ed Keating is a co-founder of Cannabiz Media and oversees the company’s data research and government relations efforts. He has spent his career working with and advising information companies in the compliance space. Ed has managed product, marketing, and sales while overseeing complex multijurisdictional product lines in the securities, corporate, UCC, safety, environmental, and human resource markets.
At Cannabiz Media, Ed enjoys the challenge of working with regulators across the globe as he and his team gather corporate, financial, and license information to track the people, products, and businesses in the cannabis economy.
Ed graduated from Hamilton College and received his MBA from the Kellogg School at Northwestern University.
Cannabiz Media customers can stay up-to-date on cannabis license data through our newsletters, alerts, and reports modules. Subscribe to our newsletter to receive these weekly reports delivered to your inbox. Or you can schedule a demo for more information on how to access the Cannabiz Media License Database yourself to dive further into this data.