CANNABIS INDUSTRY TABLE PROMISED IN BUDGET 2022
BONNOAPRIL 9, 2022
BUSINESSCANNABIS CANADACANNABIS LEGALIZATIONCANNABIS NEWSCULTUREEDITORIALFEATUREDLAWMARIJUANA LEGALIZATIONMARIJUANA NEWSPOLITICSPOLITICSPRODUCTSTHC NEWS0 VIEWS
The merger of corporate and government power continues unabated with a “cannabis industry table” included in last week’s federal Liberal-NDP budget.



Three years after Canada legalized cannabis, the landscape is not what many were expecting. By initially shutting out the legacy market and giving large licensed medical producers first dibs on recreational retail, Canada’s cannabis industry was lining up to look like our telecommunications industry. That is, high prices, even higher barriers to entry, and as consequence, a protected cartel.

Instead, consumers demanded premium craft products. The LPs who began with a sea-of-green monocrop are now scrambling to market themselves to the connoisseur consumer.

Hence, why the federal Liberal-NDP government felt this country needed a “cannabis industry table.” Entitled “Engaging the Cannabis Sector,”

“Budget 2022 proposes launching a new cannabis strategy table that will support an ongoing dialogue with businesses and stakeholders in the cannabis sector. This will be led by the Department of Innovation, Science and Economic Development, and will provide an opportunity for the government to hear from industry leaders and identify ways to work together to grow the legal cannabis sector in Canada.”

Is a Cannabis Industry Table Necessary?
If you think “stakeholders” include the cannabis culture in this cannabis industry table, then I have some swampland in Florida to sell you. In the lead-up to legalization, they barely took notice of the legacy market. They continually referred to them as “organized crime.” Sure, some of us had an opportunity to speak with the Legalization Task Farce. But this is akin to allowing children to sit at the grown-ups’ table during holiday dinners.

It is also insulting to the Western legal tradition. We already have laws on the books to run society. And we’ve had them for hundreds of years. Tort law, property law, contract law, commercial law, criminal law. English common law is case-generated law. It evolved from the settlement of actual disputes.

We don’t need parliamentarians constantly creating new laws and regulations. And then empowering expensive bureaucracies to enforce it. In the Western legal tradition, laws were procedural and not preemptively created by politicians.

Cannabis industry table sounds like something from the game Monopoly
Who Supports This?

The announcement of a “cannabis industry table” was of course welcomed by industry executives. And by advocates who haven’t learned that “The nine most terrifying words in the English language are: I’m from the Government, and I’m here to help.”

Optimists are certain the cannabis industry table will solve many regulatory problems with legalization. There’s hope that plain packaging and marketing rules will become less strict. And it’s quite possible, the big LPs want to make a profit as much as the little guys.

But skepticism is valid. Especially when George Smitherman, chief executive officer of the Cannabis Council of Canada and a former Ontario health minister, supports the initiative.

Before legalization, Smitherman wanted the government to “zap up the black market.” He said, “[D]o we really want, as a foundation, the entrenchment of the people who have been operating in the shadows?”

Smitherman was against home-growing, even a single plant. He once debated cannabis-activist lawyer Kirk Tousaw on CBC. Tousaw argued that legalization that throws people in cages for growing plants isn’t really legalization. Smitherman called that an “extreme vision.” He said legalization should not be “creating roles” for the legacy market.

Later, after legalization, he continued to criticize “the illicit world” for mislabeling legal cannabis products.

If you want some insight into what this “cannabis industry table” is going to be about, look at who supports it.

Cannabis and Big Data
Will Having A Cannabis Industry Table Actually Work?
Tasking Health Canada with a review of legalization should work out great. They haven’t started yet. Expect completion by the end of 2023, they say. I’ll put my money on the following year.

Whenever they get around to it, we can expect producers of all sizes to want several amendments to the Cannabis Act. Namely, higher potency levels on edibles and beverages, lower “sin” taxes (especially on CBD products), and changing (or at least clarifying) lab testing rules.

But is establishing a cannabis industry table all that necessary? The Ministry of Fiance already plans to amend several excise tax regulations without the need for a lengthy roundtable process. They’re not lowering or removing the “sin” taxes. Only changing when producers need to pay them.

No Legalization for Classical Liberals
Budget 2022 also outlines how the government wants to work with Indigenous groups to create a new tax framework for their communities. (And it includes cannabis taxes). And while it’s great to see some progress on the Indigenous front after hundreds of years of dishonesty, it’s also a reminder of what governments are capable of.

The cannabis industry table is going to be inefficient. It will likely accomplish nothing but eating up taxpayer money. Or it’s another attempt to smuggle in an LP cartel. What it won’t be, is a progressive step in the liberalization of Canada’s cannabis industry. We already have a process for that. It’s called free markets and the common law. We just need politicians and regulators to get out of the way.


Hence, why the federal Liberal-NDP government felt this country needed a “cannabis industry table.” Entitled “Engaging the Cannabis Sector,”

“Budget 2022 proposes launching a new cannabis strategy table that will support an ongoing dialogue with businesses and stakeholders in the cannabis sector. This will be led by the Department of Innovation, Science and Economic Development, and will provide an opportunity for the government to hear from industry leaders and identify ways to work together to grow the legal cannabis sector in Canada.”

Is a Cannabis Industry Table Necessary?

If you think “stakeholders” include the cannabis culture in this cannabis industry table, then I have some swampland in Florida to sell you. In the lead-up to legalization, they barely took notice of the legacy market. They continually referred to them as “organized crime.” Sure, some of us had an opportunity to speak with the Legalization Task Farce. But this is akin to allowing children to sit at the grown-ups’ table during holiday dinners.

It is also insulting to the Western legal tradition. We already have laws on the books to run society. And we’ve had them for hundreds of years. Tort law, property law, contract law, commercial law, criminal law. English common law is case-generated law. It evolved from the settlement of actual disputes.

We don’t need parliamentarians constantly creating new laws and regulations. And then empowering expensive bureaucracies to enforce it. In the Western legal tradition, laws were procedural and not preemptively created by politicians.

Cannabis industry table sounds like something from the game Monopoly
Who Supports This?
The announcement of a “cannabis industry table” was of course welcomed by industry executives. And by advocates who haven’t learned that “The nine most terrifying words in the English language are: I’m from the Government, and I’m here to help.”

Optimists are certain the cannabis industry table will solve many regulatory problems with legalization. There’s hope that plain packaging and marketing rules will become less strict. And it’s quite possible, the big LPs want to make a profit as much as the little guys.

But skepticism is valid. Especially when George Smitherman, chief executive officer of the Cannabis Council of Canada and a former Ontario health minister, supports the initiative.

Before legalization, Smitherman wanted the government to “zap up the black market.” He said, “[D]o we really want, as a foundation, the entrenchment of the people who have been operating in the shadows?”

Smitherman was against home-growing, even a single plant. He once debated cannabis-activist lawyer Kirk Tousaw on CBC. Tousaw argued that legalization that throws people in cages for growing plants isn’t really legalization. Smitherman called that an “extreme vision.” He said legalization should not be “creating roles” for the legacy market.

Later, after legalization, he continued to criticize “the illicit world” for mislabeling legal cannabis products.


If you want some insight into what this “cannabis industry table” is going to be about, look at who supports it.

Cannabis and Big Data
Will Having A Cannabis Industry Table Actually Work?
Tasking Health Canada with a review of legalization should work out great. They haven’t started yet. Expect completion by the end of 2023, they say. I’ll put my money on the following year.

Whenever they get around to it, we can expect producers of all sizes to want several amendments to the Cannabis Act. Namely, higher potency levels on edibles and beverages, lower “sin” taxes (especially on CBD products), and changing (or at least clarifying) lab testing rules.

But is establishing a cannabis industry table all that necessary? The Ministry of Finance already plans to amend several excise tax regulations without the need for a lengthy roundtable process. They’re not lowering or removing the “sin” taxes. Only changing when producers need to pay them.

No Legalization for Classical Liberals
Budget 2022 also outlines how the government wants to work with Indigenous groups to create a new tax framework for their communities. (And it includes cannabis taxes). And while it’s great to see some progress on the Indigenous front after hundreds of years of dishonesty, it’s also a reminder of what governments are capable of.

The cannabis industry table is going to be inefficient. It will likely accomplish nothing but eating up taxpayer money. Or it’s another attempt to smuggle in an LP cartel. What it won’t be, is a progressive step in the liberalization of Canada’s cannabis industry. We already have a process for that. It’s called free markets and the common law. We just need politicians and regulators to get out of the way.

Bruce Linton style... we all know where that went...

Good call...

"Legal" cannabis has no buziness selling at "prohibition" prices!

What ever happened to legalization?

The Cannabis Act was pumped from 6 months mandatory to 14 years.

But folks are overgrowing them anyway...

Pumping out AAAAA pounds for 700$.

What an LP to do?

Doomed!!!

They are running on empty.

Great Ponzi but,,, they sell the "future" to canna naive folks.

It worked for Linton and it works for Simon.

Lots of ignorant suckers out there.

Data shows cannabis is overgrowned and sales are dropping.

They gave Martha, Snoop and DNA millions for nothing.

You have to satisfy customers on first offering.

That is for repeated business but...

Bunk stays on lower shelfs and gets stale by the minute.

It,s all pumping bs.

I,m not in the red.

but you are

lol

(Toronto) Tilray Brands a récemment vu sa part du marché canadien du cannabis au détail diminuer, mais le producteur s’est dit encouragé parce que les derniers reculs à ce chapitre avaient été moins importants que par le passé.

Publié le 6 avrilPartager
bonno
LA PRESSE CANADIENNE

La part du marché de détail de Tilray a reculé à 10,2 % au plus récent trimestre, contre 12,8 % au trimestre précédent, a précisé le président des activités canadiennes, Blair MacNeil.

Il a imputé la baisse au changement de stratégie dans la culture des fleurs de l’entreprise et aux problèmes de disponibilité des produits dans cette catégorie, ainsi qu’à l’exigence du passeport vaccinal au Québec, qui a eu un impact sur les ventes, et à la dissolution d’un partenariat avec Marley Natural, une marque de cannabis associée au musicien Bob Marley.

« Nous avons tout de même maintenu notre première position au Canada en ce qui a trait à la part de marché, et nos positions de leader dans de nombreuses catégories d’utilisation récréative, y compris pour les joints préroulés », a-t-il affirmé lors d’une conférence téléphonique avec des analystes.

« Notamment, le taux de déclin au mois de février est le plus bas que nous ayons connu depuis plus d’un an – une première étape encourageante, qui nous laisse croire que nos ajustements de prix et de marketing portent leur fruit. »

Les observations de M. MacNeil englobent le troisième trimestre de l’entreprise, qui a pris fin le 28 février. Cette période a vu de nombreuses provinces et territoires toujours confrontés à des mesures accrues contre la COVID-19, ainsi qu’à une concurrence féroce sur le marché du cannabis.

M. MacNeil calcule que les occasions sur le marché canadien du cannabis valent environ 10 milliards et a affirmé qu’environ 54 % de ce marché était desservi par des canaux légaux, ce qui présente une « occasion de revenus importante à venir ».

« Cependant, le marché canadien du cannabis reste encombré et sursaturé avec 800 producteurs autorisés et 3200 magasins de détail », a-t-il noté. « Cela a conduit à une offre excédentaire de produits et à une compression des prix. »

Il a vu le marché réduire les prix de détail de 24,5 % au cours des 12 derniers mois et baisser les prix globaux de 6,5 % au cours des trois derniers mois.

Au troisième trimestre, la société de Leamington, en Ontario, a affiché un bénéfice net de 52,5 millions?US, ce qui se comparait à une perte de 258,6 millions?US pour la même période un an plus tôt.

Le bénéfice par action pour le troisième trimestre s’est établi à 9 cents US par action, en hausse par rapport à une perte de 1,03 $?US par action lors de la même période l’année dernière.

Les revenus nets de Tilray se sont chiffrés à 151,9 millions?US, en hausse par rapport à ceux de 123,9 millions?US du même trimestre un an plus tôt, stimulés par les ventes de cannabis, de boissons alcoolisées et de produits de bien-être.

La société garde un œil sur les États-Unis, où la Chambre des représentants du Congrès a adopté la semaine dernière un projet de loi qui retirerait le cannabis de la liste américaine des substances contrôlées au niveau fédéral.

C’est la deuxième fois que la Chambre adopte le projet de loi, qui va maintenant faire son chemin au Sénat.

Les entreprises de cannabis suivent le marché des États-Unis depuis des années et Tilray a fait une percée sur ce marché avec ses acquisitions de SweetWater Brewing Company et de Breckenridge Distillery.

La société a également acheté suffisamment de la dette convertible de MedMen Enterprises pour obtenir une participation minoritaire lorsque la légalisation aura lieu aux États-Unis.

« Nous aimerions un jour posséder MedMen, lors de la légalisation, et il y a beaucoup d’autres grands exploitants dans plusieurs États que nous aimerions acquérir », a affirmé le chef de la direction de Tilray, Irwin Simon, lors de la conférence téléphonique.

Tilray to the moon!!!

Labatt shutters CBD beverage unit in Canada in latest blow to category
author profile pictureBy Matt Lamers, International Editor
April 5, 2022 - Updated April 7, 2022

Labatt Breweries of Canada, one of the country’s top beer makers, pulled the plug on its nonalcoholic CBD beverage unit in Canada, Fluent Beverages, signaling continued pressure on the nation’s fledgling infused-drinks category.

Fluent had been born from a partnership between Budweiser maker AB InBev, the world’s largest brewer, and cannabis producer Tilray.

But that relationship ended three months ago, leaving the cannabis beverage maker solely in the hands of Labatt. Labatt is a subsidiary of AB InBev.

At the time, Labatt said it intended to operate the unit as a wholly owned subsidiary and its day-to-day operations were focused on commercializing CBD-infused beverages.

Reached for comment by MJBizDaily, Labatt would not specify why it was closing Fluent at this time or disclose the number of affected employees.

“Fluent has decided to stop operations in Canada,” Jorn Socquet, CEO of Fluent Beverages, said in a statement provided by Labatt.

“We want to thank our employees, partners, and customers for their support over the past three years in helping us build one of the top CBD beverage portfolios in Canada.”

Labatt will continue to keep an eye on the cannabis sector, a spokesperson said.

“The learnings from Fluent will be used to evaluate future opportunities within the category, and we will continue to monitor the cannabis sector closely,” said Tamar Nersesian, Labatt’s communications director.

“When Labatt announced the creation of Fluent in 2018, Fluent set out to research nonalcohol cannabis beverages in Canada.

“Over the past three years through Fluent, we have gained deep category insights into the cannabis sector and consumer preferences, expanded our research and development capabilities and worked with some exceptional talent.”

Possible changes for the worst

In Canada, recreational beverages containing cannabinoids, even if it’s just CBD, can be sold only via licensed establishments. That means retailers such as Walmart are prohibited from selling CBD drinks in their stores.

Another limiting factor is the country’s current federal regulations effectively limiting public possession and, therefore, single purchases, to 2.1 liters (71 ounces) of cannabis-infused beverages – which is about five standard-sized cans.

But the government has proposed changing the rules informing that limit.

If adopted as proposed, the public possession limit for beverages would effectively increase to 17.1 liters – or 48 standard-sized beverage cans.

Still, it’s unclear if that would be enough to spur demand for the niche products.

Health Canada said there’s no evidence the planned changes would lead to beverages becoming more popular among consumers, but the health department didn’t rule it out.

“This change may result in changes in consumer preferences, leading to cannabis beverages becoming a more popular cannabis product; however, there is no evidence to support that this change to equivalency and the corresponding impact on consumer preferences would occur,” the agency noted.

Underwhelming sales

Infused-beverage sales – including both THC and CBD – amounted to slightly less than 40 million Canadian dollars ($31 million) through the first three quarters of 2021, according to the latest figures from Statistics Canada.

That’s significantly short of the half-a-billion-dollar annual market predicted by accounting firm Deloitte.

Some of the biggest cannabis beverage makers in Canada have reported underwhelming sales.

Truss Beverage Co., a business venture between Molson Coors Canada and Hexo Corp., saw net beverage sales increase only 6% in the second quarter of fiscal 2022 over the same period in the previous year.

Canopy Growth Corp. hasn’t fared much better.

For the three months ended Dec. 31, 2021, the Smiths Falls-based company’s sales of beverages, edibles, topicals and vapes was CA$5.8 million.

That represents a 40% drop from the same period one year earlier.

Some successful craft brewers steered clear of cannabis beverages, citing poor economics.

“When we got to the spot where we said, ‘Let’s make sure the business case works over an extended period of time,’ it actually didn’t. The money wasn’t there,” Waterloo Brewing CEO George Croft told MJBizDaily in a 2020 interview.

Matt Lamers can be reached at matt.lamers@mjbizdaily.com.

Walmart to offer Tilray,s best offer... Not

Lol


Today's top story: CA cannabis farmers clamber to avoid major "extinction event." Photo: Teanna Morgan, Bonno & Unsplash

Northern California grower Mark Shaffer has major concerns about the outlook for cannabis farmers across the state.

Oversupply, high taxes and licensing fees, as well as depressed wholesale prices, according to several industry insiders, are creating cash-flow shortages for hundreds, if not thousands, of farmers across the state who are in jeopardy of exiting the legal industry – temporarily or permanently.

“This is going to be the biggest extinction event of cannabis that we've seen, and it’s unavoidable,” Shaffer told MJBizDaily California correspondent Chris Casacchia.

To avoid such a fate, Shaffer and other cannabis cultivators are scrambling to revamp their operations:

Scores of farmers are opting to let costly licenses expire to save money.

Most are trimming overhead and production, with many forgoing planting altogether this season. Others are combining expertise and resources to make one final run at viability.

Read Chris’ story to learn more about what Mark Shaffer and others are doing to stay afloat.

Walmart to offer Tilray,s best offering in an overcrowded market.
Lol


Today's top story: CA cannabis farmers clamber to avoid major "extinction event." Photo: Teanna Morgan,Bonno & Unsplash

Northern California grower Mark Shaffer has major concerns about the outlook for cannabis farmers across the state.

Oversupply, high taxes and licensing fees, as well as depressed wholesale prices, according to several industry insiders, are creating cash-flow shortages for hundreds, if not thousands, of farmers across the state who are in jeopardy of exiting the legal industry – temporarily or permanently.

“This is going to be the biggest extinction event of cannabis that we've seen, and it’s unavoidable,” Shaffer told MJBizDaily California correspondent Chris Casacchia.

To avoid such a fate, Shaffer and other cannabis cultivators are scrambling to revamp their operations:

Scores of farmers are opting to let costly licenses expire to save money.

Most are trimming overhead and production, with many forgoing planting altogether this season. Others are combining expertise and resources to make one final run at viability.

Read Chris’ story to learn more about what Mark Shaffer and others are doing to stay afloat.

Keep the faith in Simon says...

4 billion in 2024?

More futuristic predictions for suckers.

The reality is Tilray has nowhere to go, world market is flooded.

Chris Moffatt Armes ????????
@CMAinYGK
·
Apr 6
Replying to
@matt_lamers
"Are our products middling & our business shaky?"
"No, it's the consumers who are 'confused'"
Extracted.ca
@Extractedca
·
Apr 6
??
Johnny Efthimiopoulos
@JohnnyEfthimio2
·
Apr 6
Replying to
@matt_lamers
Oh my. They are sounding more each day like
@CPC_HQ
in the house.
viet2020
@viet2020
·
16h
Replying to
@matt_lamers
@IrwinDSimon

@tilray

@Aurora_MMJ

@CanopyGrowth
when are these companies going to stop playing decption, delusional and dishonest games with themselves and the public, every one of these companies has lost 100% credibility and social respect.

See new Tweets
Conversation
Matt Lamers ????
@matt_lamers
·
3h
Big jump in $TLRY's executive compensation. That's C$12 million through 9 months for the execs.

Looks like Tilray cutting costs everywhere except management.
NeenerNeener
@BeanBoBean
·
Apr 6
Replying to
@matt_lamers
I suppose this is a little rhetorical and there’s little context around this quote, but here it goes anyways.

What does he deem as consumer and budtender “confusion” and what strategy for education does he feel would solve that to improve sales?
Matt Lamers ????
@matt_lamers
·
Apr 6
There is no confusion. No education is needed. Cannabis consumers are very knowledgeable about cannabis products.
Show replies
Drug Policy Alternatives
@MikeDeVillaer
·
Apr 6
Replying to
@matt_lamers
It seems that the most critical skill for CEOs these days, in any industry, is to be able to lie convincingly. Cannabis CEOs can't even do that. Thanks for your coverage of this Matt.

Matt Lamers ????
@matt_lamers
·
Apr 6
Replying to
@matt_lamers
?? Remember this.

Tilray exec: “Please note that any revenue generated by CC Pharma for cannabis is accounted for in our international medical sales”

That is totally bonkers. CC Pharma is basically a trucking company.

Tilray CEO Simon repeating same nonsense as Canopy's CEO: "You can't really educate the consumers and the budtenders" with the level of competition and marketing rules that exist in Canada.

Consumers "confused," he says.

"That's why some of our sales are down." ??

Consumers are not "confused"... but Simon must justify his salary.

Tilray CEO Simon: "The best acquisitions are the ones we've walked away from"

Tilray recently bought huge amounts of debt of two of the worst performing businesses in the cannabis industry - MedMen and Hexo.

She,s coming down hard

My first trip to Nepal was in 1966.

Hash was sold on Freak street shops until 1973.

Those are distractions not dd.

DD is a bitch. It shows LPs going down in flames.

Good quality canna sells itself.

But you would not know that.

So... keep on watching that Red Line.

Home / Canada
Tilray reports profitable quarter, but cannabis sales fall sharply
By bonnoMJBizDaily
April 6, 2022 - Updated April 6, 2022
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Tilray reported positive adjusted EBITDA of $10 million (12.5 million Canadian dollars) for the three months ended Feb. 28, about 24% lower than the previous quarter after its cannabis sales tumbled to $55 million in the three-month period.

It was the 12th consecutive quarter of positive adjusted EBITDA, a measure of profitability in which the New York-headquartered company is an industry leader.

However, net sales for the December-February quarter were $151.9 million, slightly lower than analysts’ consensus expectations.

Net income was $52.5 million.

Tilray’s sales continued to fall in some of its key reporting segments.

Gross sales of Canadian adult-use cannabis products were $43.5 million in the quarter, down from the previous quarter’s $49.5 million.

Canadian medical sales fell 10% to $7.1 million in the third quarter.

Wholesale cannabis sales rose to $2.8 million in the third quarter, from $2.3 million in the second.

Distribution revenue, consisting of sales by its German medical shipping subsidiary, CC Pharma, was $62.5 million, 9% lower than the previous quarter.

Beverage alcohol revenue rose substantially over the previous quarter to $19.6 million.

Wellness revenue also grew from the previous period, rising 6.5% to $14.7 million in the December-February quarter.

Revenue from international cannabis products rose 15% quarter-over-quarter to $15.8 million.

The main takeaway for Pablo Zuanic, an analyst for New York-based investment banking firm Cantor Fitzgerald, “is the continued strength in the international business,” he wrote in a note to clients.

“We realize the domestic business is going through a transition, but international was certainly the bright spot this quarter,”

Cannabis accounted for 36% of total revenue.

The rest were:

Distribution: 41%.
Beverage alcohol: 13%.
Wellness: 10%.
Expert advice for a stronger shelf life
Learn the fundamentals for getting started in cannabis retail in this comprehensive guide curated by the editors at MJBizDaily with help from industry experts.

Despite the falling cannabis revenue, Tilray CEO Irwin Simon said the company’s latest quarter reflects “progress and momentum across all of our key business segments and geographies, setting the stage to achieve our target for $4 billion in revenue by the end of fiscal 2024.”

“We also continued sourcing and executing strategic and shareholder-friendly transactions that provide value with notable upside,” he said in a news release.

“As the global economy re-opens, we are confident that the global cannabis powerhouse at the heart of the Tilray Brands’ value proposition will deliver sustained and tangible shareholder value.”

Tilray shares trade as TLRY on the Nasdaq and Toronto Stock Exchange.

Cannabis stocks have been on a downtrend in these past years. Some stocks may never recover to their all-time highs. With the legalization of cannabis opening up in several states, shouldn’t the cannabis stock market be going up? Could it be that the cannabis market is oversaturated? Were cannabis stocks overpriced? Can cannabis stocks avoid a market downturn?

What Caused The Cannabis Stock Market Downturn?
Let’s take a look at what caused several cannabis stocks to decline such as Tilray, Canopy Growth Corporation, and Aurora Cannabis.

When Tilray stocks were available for sale, the stock immediately saw a 500% growth within three months. This shows that Tilray was overbought and overpriced at the time. Many people bought the hype of this cannabis stock, and the stock will probably not be getting close to it’s all-time high in the coming years.

While Canopy Growth Corporation was doing great, it ended up being bought because of the 2018 cannabis hype as well. CGC ended up recovering extremely well at the start of 2021. But there was a massive sell-off after this. The people that held on during the beginning of the pandemic took the opportunity to sell. Since then, Canopy Growth Corporation has been on a downturn.

The same thing happened to Aurora Cannabis. People bought the hype and the stock ended up being overbought. While ACB was doing fine despite being overbought, its growth was stalled by the pandemic’s economic fears. Just like the entire global economy.

So, what caused the cannabis stock market downturn?

The hype of cannabis stocks in 2018, many cannabis stocks ended up being overbought.

Why hasn’t the cannabis stock market recovered?

The COVID-19 pandemic caused a global economic decline and halted the growth of many markets.

Poor quality products at prohibition prices is not cutting it with customers.

The hype is long gone!

They have been pumping poor quality products from the start.

The word is out.

They are doomed.

Nowhere to go but down in flames.

Bunk weed does,nt sell. They are doomed!

Martha,s gummies fault

Time will tell…

Dorothy i am sorry to say

that Martha’s cat was killed by Martha’s dog early today.

Gummies could be involved…

Stay tune.

It,s called a reality check.

On almost every conference call with analysts, CEOs of large LPs say a variation of « We,re not in for market share, we,re here to make a profit »

But when your market share is constantly retreating, like Tilray,s and Canopy,s, it,s impossible to hit your sales targets.

Piper Sandler is again lowering sales estimates for Canopy Growth.

Shaves 61.7 million off FY2023 expectations.

Now expects Canopy,s sales to be 593.5 million in FY2023.

One year ago it was expecting Canopy to report $1 billion in sales in FY2023.

Stunning.

When bunk weed is the mood…

« According to HiFyre data for the provinces of AB, BC, ON, and SK, TLR’s retail sell-through declined 23% q/q in FQ3/22 « 

Up from a previous forecast of minus 10%.

« TLRY is still losing share »

Who’s your daddy ?

« According to HiFyre data for the provinces of AB, BC, ON, and SK, TLR’s retail sell-through declined 23% q/q in FQ3/22 « 

Up from a previous forecast of minus 10%.

« TLRY is still losing share »

Who’s your daddy ?

NEW: BMO has again cut Tilray,s estimated 2022 sales.

Now expect $636 million.

?? When Tilray/Aphria merged in May 2021, BMO projected $802 million in sales.

(BMO was among the lower estimates. Other analysts projected over $1 billion in sales.

Ok now. Back to pumping!

In 13 months, Piper Sandler cut Canopy,s revenue expectations by 42%.

Everyone who says « market share does,nt matter… this is why market share matters.

Dude, where is your DD?

mjbizdaily.com April 5

Analyst cut hundreds of millions from Tilray, Canopy, Aurora.

Analyst have slashed hundreds of millions of dollars off their 2022 sales forecasts for Canadian cannabis producers Tilray, Canopy and…

Read all about it in this latest text and learn why you are on track to be a bag holder… ??

If you play, you must be able to lose it all and laugh about it.

Do not cry over spilled milk…

« Just like most startup in a new industries… »

Cannabis is not a new industry!

Legacy has that market running like there is no tomorrow…

Good luck arresting your way through…

And like Tilray, Curaleaf makes no dollars.

Lp,s are doomed!

Curaleaf has been REDsince 2010.

Tilray does,nt fare any better.

Poor quality products stays on the shelf.

There is way too much bunk weed growers.

95% of all cannabis company is bogus.

Impossible to make a $ there.

Best to compete on the 5% top shelf market.

Ok… I’ll wait.