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The Bengal Bite

Adapting Until Things Make Sense

April 30, 2020

Cannabis companies, like all businesses, have been forced to adapt in response to the uncertainty created by COVID-19.  Astute operators have used today’s challenging environment as an opportunity to prepare for the future by auditing cost structures, examining marketing practices, and increasing delivery and online presence during this pandemic. Evidence continues to support the idea that cannabis is a resilient, recession-resistant staple, and we are encouraged by cannabis operators that have adapted with curbside pick-up, delivery, and online payment to capture larger basket sizes for purchases.

Those that continue “adapting until things make sense” will be well-positioned when uncertainty around COVID and, eventually, the industry clear.

The Bengal Capital Team

Harvest announces planned divestment of select California retail assets to High Times (

Harvest will divest California retail assets in a stock-heavy transaction that, if executed, would give Harvest 30% ownership of High Times. While there is some uncertainty surrounding this transaction due to regulatory approval, it appears to be a move by Harvest to "adapt until things make sense," by focusing on their core operations and markets. 

Reconsidering pot's teaspoon of tax revenue: Cannabis Weekly (

New legislation has been introduced in the House to include cannabis companies in the next stimulus package. Boris Jordan, executive chairman of Curaleaf Holdings Inc., has commented on the parallels between the current economic environment and the lifting of Prohibition during the Great Depression. "Prohibition was lifted and alcohol sales were taxed because the federal government and the local governments needed the revenue. We expect over the net 12 to 18 months that significant changes in regulation will bring cannabis into the mainstream in the U.S. as an industry."

Cannabis is booming in Florida, here are the winners (

Florida's cannabis market is enormous and continues to grow rapidly. Weekly government reports provide unmatched transparency and offer a glimpse into the potential of a market that "makes sense."

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