Canada's cannabis industry just beginning to bud
What looks like a once-in-a-lifetime business opportunity is proving to be an elusive pot of gold
Wednesday, July 31, 2019
Mark Rendell, a business journalists for Canada's second-largest daily, The Globe and Mail, says the decision to legalize cannabis has led to a gold rush mentality within the emerging industry. He saw even sober-minded investors get "high" on cannabis stocks. He is skeptical in view of the many broken promises made by a lot of companies about their production targets so far. "Companies had to drive their story forward, they had to come out with press release after press release ... saying we are going to build this and sell this because they were talking to a retail investor audience. So there was a real shock, how much they underperformed." (See also: Establishing territorial footprint has been what the race in Europe has been all about since mid 2016 for the Canadian LPs so far)
