After ‘Green Rush,’ Canada’s legal pot suppliers are stumbling
Most marijuana producers in Canada are still reporting staggering losses two and a half years after legalization
The New York Times (US)
Sunday, April 18, 2021
Sunday, April 18, 2021
When Prime Minister Justin Trudeau’s government’s legalized marijuana in 2018, a primary goal was to create a more equitable justice system — not a major new business sector. Investors, however, thought otherwise, and in the time leading up to legalization, a “green rush” swept the Toronto Stock Exchange. Money poured into companies starting up to service not only the Canadian market, but also eyeing other opportunities, particularly the U.S. market. Analysts say one reason the sunny projections have failed to materialize is the tightly regulated distribution system introduced by Canada, which largely bans advertising and marketing. The halting roll out of stores in some provinces — particularly Ontario — is also a factor.
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