'The soul of cannabis is gone': Portland marijuana dispensaries rocked by crime, oversaturated market

OG Article

Katherine Cook

April 9, 2025

Shades PDX owner shuts down amid cannabis industry challenges including repeated robberies and market saturation; calls rising crime "unsustainable."

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Author: Katherine Cook

Published: 11:47 PM PDT April 9, 2025

Updated: 11:47 PM PDT April 9, 2025

PORTLAND, Oregon — A Portland cannabis wholesale business owner is shutting down operations, citing repeated break-ins, dangerous conditions and economic challenges in an oversaturated market.

Joel Stewart, who launched Shades PDX last June after nine years in the cannabis industry, said his wholesale transportation business connecting local farms with dispensaries faced mounting difficulties despite initial efforts to succeed.

"At the turn of the year, all of a sudden people started getting robbed, we got hit twice," Stewart said. "I got friends in dispensaries right now getting robbed and pistol whipped and I got people's livelihoods getting destroyed."

The Oregon Liquor and Cannabis Commission reports 2024 marked the largest cannabis harvest in state history, recording 5,735,796.24 pounds — 4% higher than the previous record set in 2021.

"It's flooded, it's too much product, it's oversaturated," Stewart said. "It's the best weed in the country and we have the cheapest prices."

The market conditions raise questions about the motivation behind frequent break-ins.

"You can take weed and sell it on the black market for a lot more money," Stewart explained.

In January, Portland Cannabis Market, the city's largest cannabis retailer, closed after suffering seven break-ins over seven years. CEO Cory Turner estimated the business lost approximately $1.5 million in stolen product and damages.

"I'm stepping out away from the business," Turner said. "This is not sustainable for me or my family."

Police arrested a suspect during Portland Cannabis Market's final break-in, but dispensary owners report that slow response times due to police understaffing rarely result in arrests.

Matt Buker, co-owner of Truly Pure in Southeast Portland, experienced a December robbery where assailants assaulted an employee and held him at gunpoint.

"We were sick to our stomachs," Buker said. "I think that there is enough tax revenue coming from our industry that there should be something put in place that should be advocating for us and protecting us in these scenarios."

The accumulation of challenges has deeply affected Stewart, who entered the cannabis industry with altruistic intentions.

"It's like the soul of cannabis is gone," Stewart said. "Ripped out."