A flood of product is leading to a drought of opportunity here in Michigan, where the state's once-flourishing marijuana operations are now under stress.
Power REIT (PW) stock increased 1.7% in Friday after-hours trading after the real estate investment trust focused on greenhouses updated progress on its Michigan greenhouse.
The Royal Oak City Commission approved special permits for three marijuana businesses the first of any kind in the city since voters legalized recreational cannabis sales in 2018.
Marijuana businesses Royal Treatment, Gatsby Cannabis and Best Lyfe all received the OK to proceed with operations…