RBC Capital Markets analyst Douglas Miehem predicted vapes and edibles would only reach $250M in sales nationally this year. He said new products “could face an uphill battle in the first year of 2.0 product launches,” though he predicted vape and edibles sales will hit $1.5B by 2022.
BNN Bloomberg
- Cannalyst Craig “GoBlueCDN” Wiggins questioned RBC’s math, noting “$250 million is only a +15% bump. Seems very light.”
Twitter—GoBlueCDN - In an assessment of Canopy Growth’s “major 2.0 flaws,” Stone Fox Capital argued “the Canadian cannabis sector is trying to sell edibles at very high costs per mg of THC,” while products on the illicit market priced similarly to legal edibles can contain 37 times as much THC, which it would cost $299.63 to consume legally (a 2,3000% increase in THC price-per-milligram). Seeking Alpha
- In an assessment of Canopy Growth’s “major 2.0 flaws,” Stone Fox Capital argued “the Canadian cannabis sector is trying to sell edibles at a very high costs per mg of THC,” while products on the illicit market priced similarly to legal edibles can contain 37 times as much THC, which it would cost $299.63 to consume legally (a 2,3000% increase in THC price-per-milligram).
Cannabis industry contribution to Canada GDP continues to climb, up to $7.44B in November 2019 from $6.33B in January of last year. Licensed cannabis revenues were $3.12B in November (up from $1.44B in January), while unlicensed cannabis sales continued their slow decline from $4.88B in January of last year to $4.28B in November.
Twitter—David George-Cosh
Quick Hits
- Most people either love or hate Joe Rogan, so you’ll either be enthused or exasperated to hear he’s playing a special 4/20 show in Vancouver.
GrowthOp - Postsecondary cannabis education is moving from training students to work in LPs to teaching retail skills for REC stores.
Castanet
