What do you do with a billion grams of surplus weed?
Cannabis legalization was supposed to be a licence to print money. Three years on, nobody is turning a profit
The Walrus (Canada)
Thursday, August 5, 2021
Thursday, August 5, 2021
Back in 2018, during those months before Canada legalized recreational cannabis, things were good for the pot industry. Companies were being hyped as pioneers in “the green frontier” and “proof that money grows on trees.” Cannabis stocks were going ballistic, and three of the largest companies’ share values had each increased by more than 200 percent over the course of 2017—according to media outlet MJBizDaily, the Canadian Marijuana Index had risen by 117 percent in December of that year alone. Investors were not just making money, they were making money fast. Three years later, much of that hype has vanished, and now both industry and government are beginning thorough post-mortems of what is, and isn’t, working with pot legalization.
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