Cannabis stocks have begun tentatively to nose their way up, following eight months of decline that sheared two thirds off cannabis stock values. Pot stocks had their best three days since January this week.
- Statistics Canada figures show the legal REC industry grew 185% between legalization in October 2018 and August 2019.
- The next question is: will the mood of calamity doom the 2.0 rollout?
- New cannabis consumers—whom the sector desperately wants to court—are interested in products and ingestibles. LPs have spent all year banking on the success of the coming vape pens, edibles, and beverages.
- But many fear the costly mistake of investing too much in products no one wants—as Canopy did with oils and softgels. Legalization 2.0 offers more products for companies to gamble on, but the same near-total-lack of market research.
Youtube/Government of Canada
Industry opened a new front against Health Canada as CEOs from Aurora, Tilray, Supreme, Organigram, Canopy, Hexo, and other LPs published an open letter calling for Ottawa to end multiple cannabis excise tax stamps for each separate province.