There are some huge problems in the California weed market, but this is very misleading in its lack of specificity.

The market for outdoor marijuana is totally crashed, but thats just because nobody wants schwag here, the market for quality indoor marijuana is quite strong, but there are problems still. Mainly that the 30% Tax rate is driving prices up very high, and consumers are opting to purchase the marijuana on the black market instead. Also the marijuana stores are being blackballed by the banks who won't do business with them due to the federal illegality.

Source: I actually live here and participate in this market