Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Accumulated net losses by Canadian cannabis producers to date (pre-mergers). TOTAL LOSSES: $12.5 billion
Here is the truth about stockmarket weed corporations and their fat wallet weed executives who are pocketing your investment money as salaries while losing 100rds of millions of dollars per quarter. Your going too lose alot of money, because its already happening In the US. With ex-politicians and ex-law enforcement ripping off investors and consumers.
WEED: $3.8 billion
APH: $561 million
HEXO: $701.2 million
SNDL: $714.5 million
TLRY: $1.3 billion
ACB: $4.1 billion
TGOD: $436 million
OGI: $245.9 million
ZENA: $240 million
TOTAL COMPENSATION FOR ???? CANANBIS CEOs (latest disclosures, some are former)
D Klein (WEED)—$42 million
I Simon (APH)—$18M
K Schmidt (CRON)—$12.5M
S St-Louis (HEXO)—$11M
Z George (SNDL)—$5M
B Kennedy (TLRY)—$4.3M (2019)
T Booth (ACB)—$5M
B Athaide (TGOD)—$1M
G Engel (OGI)—$628k
Accumulated net losses by Canadian cannabis producers to date (pre-mergers).
— Matt Lamers 🌻 (@matt_lamers) July 6, 2021
TOTAL LOSSES: $12.5 billion
WEED: $3.8 billion
APH: $561 million
HEXO: $701.2 million
SNDL: $714.5 million
TLRY: $1.3 billion
ACB: $4.1 billion
TGOD: $436 million
OGI: $245.9 million
ZENA: $240 million https://t.co/V76nrV9bdL
You know you can't give stock advice? You can't give medical cannabis advise either, LPs can't even make medical claims for this exact reason, YOU ARE WRONG ! and a patient will suffer with your comment. The only method too get pain relief immediately is too smoke it, If you have Parkinson's you need too smoke immediately, if you have spinal stenosis like myself Don't wait 40 minutes for a 10mg gummy to take affect, and for god sakes don't recommend CBD only too a cancer patient when it is very high THC that kills cancer cells while leaving healthy cells untouched through a biological process called Apoptosis, this has been known since 1974 and has never been accepted by Hellth Canada.
Watch THC Kill Cancer cells.
Canadian cannabis producers have sold less than 20% of output since adult-use legalization
Do you not know what you are invested in ?
https://mjbizdaily.com/canadian-cannabis-producers-have-sold-less-than-20-percent-of-output-since-2018/
Canadian producers destroyed over 500 tons of cannabis since 2018
https://mjbizdaily.com/canadian-producers-destroyed-over-500-tons-of-cannabis-since-2018/
Accumulated net losses by Canadian cannabis producers to date (pre-mergers).TOTAL LOSSES: $12.5 billion
WEED: $3.8 billion
APH: $561 million
HEXO: $701.2 million
SNDL: $714.5 million
TLRY: $1.3 billion
ACB: $4.1 billion
TGOD: $436 million
OGI: $245.9 million
ZENA: $240 million
TOTAL COMPENSATION FOR Flag of Canada CANANBIS CEOs (latest disclosures, some are former)
D Klein (WEED)—$42 million
I Simon (APH)—$18M
K Schmidt (CRON)—$12.5M
S St-Louis (HEXO)—$11M
Z George (SNDL)—$5M
B Kennedy (TLRY)—$4.3M (2019)
T Booth (ACB)—$5M
B Athaide (TGOD)—$1M
G Engel (OGI)—$628k
Accumulated net losses by Canadian cannabis producers to date (pre-mergers).
— Matt Lamers 🌻 (@matt_lamers) July 6, 2021
TOTAL LOSSES: $12.5 billion
WEED: $3.8 billion
APH: $561 million
HEXO: $701.2 million
SNDL: $714.5 million
TLRY: $1.3 billion
ACB: $4.1 billion
TGOD: $436 million
OGI: $245.9 million
ZENA: $240 million https://t.co/V76nrV9bdL
I have told you many times Tweed/Weed/CGC is no longer a Cannabis corporation, any state that is legal have been selling CBD for years and already have CBD vape customers and brand loyalty. Since Tweed can't sell THC they will not profit from Cannabis at all, and now will have too compete with the other fat wallet fake cannabis executives, advertising there products on social media for 2 years, with there medical claims of stopping Tobacco smoking and the best night sleep ever. The industry has been State legal for almost 2 decades, zero chance Klein lobbying government too shutter all weed businesses for a commercial stockmarket monopoly as they did in Canada, and the only reason CGC/Weed is still in business.
Your speculation and and investment is falling apart at the Hemp Seeds.
When a sector has a supply 1000X demand, and are literally destroying more product then they are selling, your sales receipt and invoice number means absolutely nothing.
Just think! if Apple made 500 million phones since their inception, but to date have sold 5 million phones, and have destroyed the other 495 million phones because of bad quality and low sales, would you give "Apple" your investment money or your consumer money?
Canadian producers have destroyed millions of packaged cannabis products and hundreds of tons of unpackaged marijuana since adult use was legalized in late 2018, according to data acquired by MJBizDaily.
Industry experts suggest the large-scale destruction reflects a variety of factors, ranging from low-quality product to a lack of retail outlets and stockpiling ahead of the 2020 launch of Cannabis 2.0 products such as edibles and concentrates.
https://mjbizdaily.com/canadian-producers-destroyed-over-500-tons-of-cannabis-since-2018/
No miracle, BC Bud is back and Kicking butts out of town, stockmarket weed corporations will never profit in BC or Ontario.
‘It’s a serious blow:’ cannabis producer Tilray announces shut down of Nanaimo operation
https://cfjctoday.com/2021/09/15/its-a-serious-blow-cannabis-producer-tilray-announces-shut-down-of-nanaimo-operation/
With Canadian weed executives committing crimes in the US, when it isn't even Federally legal, the chances of legalization is little too none.
The class-action lawsuit, which was filed in a U.S. District Court in New Jersey on Tuesday, alleged that Aurora and its executives engineered a way to artificially inflate the company's fiscal 2019 fourth-quarter adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) by selling $21.7 million worth of dried cannabis to Radient Technologies Inc. in June 2019 in a deal that "lacked commercial substance". The filing further alleged that Aurora later repurchased that same amount of dried flower back from Radient, an Edmonton-based cannabis extraction firm in which Aurora has a 12 per cent ownership stake as well as control of one board seat.
While the class action has yet to be certified by a U.S. federal judge and the claims have not been tested in court, the allegations highlight the operational challenges that many Canadian cannabis producers undertook in the early days of Canada's recreational marijuana market, some of which ran afoul of regulations in order to meet the high consumer demand for those legal products and lofty investor expectations.
The plaintiffs allege that as the defendants continued to misrepresent the true condition of Aurora’s business, the company's stock was trading at "artificially inflated prices", which have subsequently plunged by more than 90 per cent since mid-2019. The plaintiffs for the lawsuit allege Aurora violated two counts of the U.S. Exchange Act and requested a trial by jury.
Other defendants named in the lawsuit include former chief executive officer Terry Booth, former president and board member Stephen Dobler, chief financial officer Glen Ibbott, former chief corporate officer Cam Battley, executive chairman Michael Singer, board member Jason Dyck and former chief operating officer Allan Cleiren, who also sat on Radient's board.
https://www.bnnbloomberg.ca/cannabis-canada-weekly-aurora-faces-lawsuit-early-august-data-shows-market-remains-fragmented-1.1650616?fbclid=IwAR2JD-q67JbOPmgEcYJ0UwG_6IQXMs9dml8BRYfRJJZi4c_wsPr8rB5zXOQ
About Columbian exports, my speculation says I don't see the US, UK or Canada allowing for imports from other countries of any significant amount especially when LPs the market is destroying more cannabis then they are selling.
Canadian producers destroyed over 500 tons of cannabis since 2018
https://mjbizdaily.com/canadian-producers-destroyed-over-500-tons-of-cannabis-since-2018/
I don't support anyone's wallet except my own when it comes too cannabis, I donated $1000 too the the lawyers and in return I got a court protected medical license and a couple of breeders that I get good viable seeds from.
I have no need too support any fat wallet stockmarket weed executives no matter of race, cause I grow better cannabis at cents on the dollar, and since I am a medical patient I refuse to pay tax on a medication for my health.
Your comments are all speculation, hype, and are based on greed too profit from the Cannabis business, when you yourself are not even part of.
I have Croptober covered so I need not put my money in the pockets of Weed executives.
I think 2 plants 12 feet high, 2 pound harvest and 400 lbs of silver and gold will get me past the total market collapse that will take place in the next few months. The economy is going to get very bad soon, most investors will be wiped out by next summer, think of the devastation to your "Portfolio"
Bribery trial: Husband of Trulieve CEO bragged about medical cannabis pull
I keep telling you they are all criminals, and the exact same crimes & failures are and will happen in the US just like Canada. Your statement is the same as 4 years ago with Tweed & Canadian cannabis and look where the stock is today. Do you have shares and trust your investments with these criminals? cause if you do you will lose your money
In addition to Burnette’s trial, Halsey Beshears also has been caught up in the federal investigation of Florida congressman Matt Gaetz.
The New York Times earlier this year reported that Halsey Beshears was on a party plane with Gaetz to the Bahamas that has become a focal point of an investigation into possible sex trafficking and a marijuana pay-to-play scheme.
In its audited annual financial report in March, Trulieve disclosed that it made property and equipment purchases totaling $96.7 million in 2020 from a company with Burnette as minority owner.
https://mjbizdaily.com/bribery-trial-husband-of-trulieve-ceo-bragged-about-medical-cannabis-influence/?utm_medium=email&utm_source=newsletter&utm_campaign=MJD_20210812_NEWS_Daily
The lawsuit alleges that Canopy Growth, the firm's venture arm Canopy Rivers Inc., as well as TerrAscend Corp. and its Canadian subsidiary, have committed “bad faith, fraud, civil conspiracy, breach of the duty of honesty and good faith in contractual obligations, and breach of fiduciary duty,” according to court documents.
They are all weed criminals plan and simple
https://www.bnnbloomberg.ca/pot-producers-including-canopy-growth-sued-for-500m-over-supply-dispute-1.1494452
The cannabis industry continues to shell out big bucks for those at the top, including $14 million to this former Canadian PM
Mulroney received over $13 million for his role as a director at Acreage Holdings
They are stealing your investment money
https://www.thegrowthop.com/cannabis-news/meet-the-highest-paid-cannabis-executives-in-north-america-including-brian-mulroney?utm_medium=Social&utm_source=Twitter&fbclid=IwAR1ZeoGWfwYL3TrBMOwf7cM7SqNB6sCOuC2ozqbpuxzcQ3Q-uB-3aZfeE-M#Echobox=1590594614
Did he tell you he lost $3.8 billion last year, all while pocketing $42 million of investors (including your) money? The Tweed Twit knows nothing about cannabis or what Cannabis consumers want and need.
Accumulated net losses by Canadian cannabis producers to date (pre-mergers).
TOTAL LOSSES: $12.5 billion
WEED: $3.8 billion
APH: $561 million
HEXO: $701.2 million
SNDL: $714.5 million
TLRY: $1.3 billion
ACB: $4.1 billion
TGOD: $436 million
OGI: $245.9 million
ZENA: $240 million
Quote Tweet
Matt Lamers
@matt_lamers
TOTAL COMPENSATION FOR Flag of Canada CANANBIS CEOs (latest disclosures, some are former)
D Klein (WEED)—$42 million
I Simon (APH)—$18M
K Schmidt (CRON)—$12.5M
S St-Louis (HEXO)—$11M
Z George (SNDL)—$5M
B Kennedy (TLRY)—$4.3M (2019)
T Booth (ACB)—$5M
B Athaide (TGOD)—$1M
G Engel (OGI)—$628k
Accumulated net losses by Canadian cannabis producers to date (pre-mergers).
— Matt Lamers 🌻 (@matt_lamers) July 6, 2021
TOTAL LOSSES: $12.5 billion
WEED: $3.8 billion
APH: $561 million
HEXO: $701.2 million
SNDL: $714.5 million
TLRY: $1.3 billion
ACB: $4.1 billion
TGOD: $436 million
OGI: $245.9 million
ZENA: $240 million https://t.co/V76nrV9bdL
Is The US Cannabis Market Doomed To Fail Like Canada’s?
Ask any longtime supporter of the cannabis legalization movement, and they’ll tell you, ready or not, that a taxed and regulated pot market is all the country needs to turn around hard economic times. Think about all the money the federal government can make from tax revenue alone, they often say.
The only problem is those people are the ones refusing to pay the taxman. In Canada, the cannabis trade presently has a 1.1-billion-gram surplus of weed that they cannot sell because many customers have continued to purchase from the black market. Some would even say that illicit sales have set the Canadian pot market up for failure. Of course, this begs the question: Is the United States cannabis market doomed to suffer the same fate?
Stockpiles of Canadian weed are going bad before it has a chance to be sold. Around 500 tons of quality retail cannabis has been destroyed over the past couple of years. Sources credit the disaster to the fact that 50% of the weed purchased in the northern nation is still coming from the black market. That’s right, despite having a legit source for buying pot, people would rather get it from their neighborhood street dealer. Why? Because it is cheaper, and people can maintain their anonymity. Some folks do not want to make their pot use public, legal or not. Unfortunately, the loyalty to the black market is sabotaging the profits of Canadian cannabis companies.
In the United States, we’ve seen a similar allegiance to the black market in some states that have legalized for recreational use. California, Illinois, and Massachusetts continue to struggle with illicit pot sales. Some say it’s the expensive startup costs and licensing fees creating the problem. There are, of course, too, all those marijuana consumers — the same ones that asserted back in the days of prohibition that weed could be economic salvation if it was just taxed — who have flat out rejected the idea of paying taxes on something they can still get cheaper from a dude down the street.
But it takes two to tango.
Meanwhile, the federal government is looking at the Great Cannabis Experiment and wondering how it will take it nationwide and make it profitable. Sure, they say ending prohibition is in the interest of social equity and repairing damages from the drug war. Still, the reality is they want to uncover the magic plan that will make legal marijuana as much of a boon to the U.S. of A as alcohol and tobacco. So far, it seems that everyone involved is coming up short.
If you remember, industrial hemp, which was legalized once again back in 2018, was also supposed to provide an enormous financial boost to the country. It was going to be used for food, paper, tires, and everything else. But it hasn’t been able to find any traction. There are oversupply issues, high processing costs, and no new markets. It seems the nation isn’t ready to embrace it just yet.
Still, financial experts say the United States cannabis market isn’t headed for the same economic troubles as Canada.
“There needs to be a sense of caution when looking at Canadian cannabis companies relative to their U.S. counterparts who are very profitable and continue to grow,” Korey Bauer, chief investment officer and portfolio manager of the Cannabis Growth Fund from Foothill Capital Management, told Market Watch. “Valuations look much better in the U.S. at these current levels.”
A recent report from Flowhub finds the U.S. cannabis industry is worth $61 billion. However, much of the industry will be forced to change once Uncle Sam gets in on the mix. States do not have any federal controls and are mostly left to legalize how they see fit — for now. Senate Majority Leader Chuck Schumer is pushing a bill this year that, if passed, would create national controls. Pot prices will conceivably get more expensive once marijuana goes legal nationwide.
It’s conceivable that this could create a similar surplus situation to what is happening up to the north in Canada. Let’s just say your neighborhood marijuana dealer isn’t likely going out of style anytime soon.
https://thefreshtoast.com/opinion/is-the-us-cannabis-market-doomed-to-fail-like-canadas/
Trainwreck On The Cannabis Tracks — Don't Bogart The Weed Industry
Here is US cannabis, exact same failures as Canadian cannabis
A Forbes publication: All Bad News for US stockmarket weed.
There is a silent battle raging inside the legal cannabis industry today. It’s not the typical battle between competitors you’d find in any emerging industry. That’s too simplistic. We all know the weed game is anything but simple. Maybe “battle” is the wrong descriptor for what’s happening. Maybe “a giant trainwreck” is more apt.
Many different groups are descending upon this industry while, simultaneously, the people who’ve been working with cannabis for decades are feeling displaced and disrupted by the newcomers. Throw in some trains coming down the track with elected officials and policymakers, and it’s no wonder there’s more than one legalization mess to clean up.
Investors, corporate leaders from other businesses, and a tsunami of mainstream industries like agriculture, extraction, and retail, are all jumping in with high-level relationships and funding. Most of these folks have good intentions but no connection to the history of cannabis prohibition; they are unaware of the damage prohibition has had on Black and Brown communities; they are often blinded by exuberance and the race to grab market share, and barrel down the tracks.
On the other side of the station, we see legacy growers, Black and Brown activists fighting for social equity, small business owners and operators of medical cannabis establishments, patients who need safe and affordable access, and caregivers intent on giving medicinal cannabis to their suffering clients. Legalization was supposed to help these stakeholders legitimately participate in the industry, and yet the opposite has occurred. Bad regulatory frameworks in places like California have made it impossible for these citizens to access licenses and overcome barriers to entry. Many have given up and returned to the underground market.
Consumers of cannabis are also fed up with high prices and taxes for a plant they had affordable access to for decades. Here in California, 75% of all cannabis transactions are happening in the underground market after four years of adult-use legalization. Similar patterns are happening in Michigan, Illinois, Massachusetts, and nearly every state where cannabis is legal: the underground market is doing a better job of delivering access, affordability, and quality ganja to the masses. And now, the legal industry in California has allowed its roots to rot. What used to be an industry intent on healing patients is now one that only cares about banking billions.
For people like me who’ve spent a lifetime trying to present cannabis as a good plant, this is not the kind of industry we envisioned when we made untold sacrifices to bring cannabis out of the shadows and into the light.
My vision is a legal cannabis ecosystem that includes small, medium, and large companies all working to bring healing, wellness, and care to our local communities and beyond. Ownership will be diverse, with a good chunk belonging to those who suffered the most under prohibition. Our industry can model social equity for Black, Brown, and Indigenous communities, and level the playing field so these folks have greater access to licenses and capital. The growing size of the legal cannabis market over the next 10 years makes me optimistic that there’s plenty of room to do this right and allow all the trains to run smoothly on the tracks of a new kind of capitalism.
Getting there will require more cooperation to clean up the current trainwreck between all these stakeholders in the larger cannabis community. We’ll need better public policy and legal frameworks to operate within. We’ll need both private and public funding to support better policies and more diverse ownership. And somehow, we’ll need to embrace a values system that places sharing and generosity above greed and exclusion. Above all else, it will require all of us to give voice to this silent problem and engage each other in loud and transparent debates to arrive at the best solutions.
We have a unique opportunity to brand the cannabis industry as one with community and purpose. It’s a once-in-a-lifetime opportunity. Now is the time to have the hard conversations, understand the complexities of all the issues, and forge our tracks together to take everyone on the ride of the century.
https://www.forbes.com/sites/andrewdeangelo/2021/08/24/trainwreck-on-the-cannabis-tracks---dont-bogart-the-weed-industry/?sh=228794369a4e
You criteria is wrong, backwards, and opposite too the only real federally Legal cannabis industry in "Canada".
CGC lost over 3 billion dollars last year, That is 75% loss of Constellations investment and ownership.
All the Publicly traded stockmarket weed corporations have ridicules huge inventories that are unsellable do too poor quality and lack of demand. The real financial truth and facts is since legalization weed corporations have only sold 20% of what they produced, with the destruction of 500 tons of cannabis since 2018 this spells a failure as a business or corporation, True stats show That Canadian Cannabis supply is 1000X demand, does any of this equate to a Tesla, Amazon, or Apple?
Canadian cannabis producers have sold less than 20% of output since adult-use legalization
https://mjbizdaily.com/canadian-cannabis-producers-have-sold-less-than-20-percent-of-output-since-2018/
Canadian producers destroyed over 500 tons of cannabis since 2018
https://mjbizdaily.com/canadian-producers-destroyed-over-500-tons-of-cannabis-since-2018/
Its all a lie closed at
$21.25 -0.64 -2.92%
All Stock manipulation and corporate stock buy backs as CEO pockets your investment money
Here is Tweed/CGCs competitors, since They are now a US based CBD Gummy business, No way CGC US will ever compete with US Cannabis companies in states that have been licensed legacy growers for 2 decades. Where is the Martha advertising?, fat wallet O'leary has Tweed beat for CBD Gummy Marketing and promotion, Why is Klein allowed too steal Investors money?
https://toglammeup.com/?fbclid=IwAR0NwfEge0pCQPNhTy7DmeDqRj-KtaUh4KAJlQXMD7JqdbyFUh7YKKuhpUE
A real WEED ticker. down 80 cents
https://www.marketwatch.com/investing/stock/weed?countrycode=ca
Klein? Whoever changed this just shot CGC/Tweed in the heart. One of the most trusted and good quality cannabis brand (7 Acres) was known as a Supreme Cannabis product too most recreational users, CGC will now rebrand it with a fake Tweed strain name TWD 25, and called it theirs under CGCs brand when most users will not buy any Tweed products because of poor quality and over priced.
This proves that CGC is no longer a Canadian cannabis company and now a US CBD/wellness drink corporation. Tweed will continue too lose money in the US markets the same as they are there, Klein will now be picking the US investors wallets, wonder if Weed is out of the TSX since its still federally illegal too cultivate, buy, sell, or trade.
None of this changes anything, Stockmarket weed corporations are bleeding hundreds of thousands of dollars while the weed executives are pocketing your investment money for compensation and a job not well done, All you are doing is filling these fat wallets.
No chance this is changing in the next 12 quarters, just warning take your money out before the the whole dammed market collapse, The US Fiat dollar will be worth nothing.
Accumulated net losses by Canadian cannabis producers to date (pre-mergers).
TOTAL LOSSES: $12.5 billion
WEED: $3.8 billion
APH: $561 million
HEXO: $701.2 million
SNDL: $714.5 million
TLRY: $1.3 billion
ACB: $4.1 billion
TGOD: $436 million
OGI: $245.9 million
ZENA: $240 million
TOTAL COMPENSATION FOR ???? CANANBIS CEOs (latest disclosures, some are former)
D Klein (WEED)—$42 million
I Simon (APH)—$18M
K Schmidt (CRON)—$12.5M
S St-Louis (HEXO)—$11M
Z George (SNDL)—$5M
B Kennedy (TLRY)—$4.3M (2019)
T Booth (ACB)—$5M
B Athaide (TGOD)—$1M
G Engel (OGI)—$628k
Cannabis N.B. to let local producers set up retail shops
Social Sharing
You simple don't understand, 50% of the Blackmarket is now licensed and legal LMAO Do you really believe Stockmarket weed corporations can compete with new legacy growers when they now can own a store and farmgate as well as too sell good cannabis privately?
Licensed producers will be able to apply to sell directly from their growing and processing sites
There could soon be more shops selling New Brunswick-grown cannabis products.
Cannabis N.B. has announced a new farm-gate program, in which licensed cannabis producers will be invited to apply for permission to sell their products onsite, where they are grown, the Crown corporation said in a news release.
The program is meant to give local producers a higher profile, as well to "educate customers about their products" and create tourism opportunities, CEO Lori Stickles said.
Rod Wilson of the New Brunswick Craft Cannabis Association said he expects it will be similar to the way wineries can give tours and sell their wine onsite.
"It's an encouraging step in the right direction," Wilson said, noting cannabis producers will be able to market themselves directly to consumers and build brand loyalty.
"It makes the small-scale local cultivators and processors a more viable small-business opportunity," he said.
https://www.cbc.ca/news/canada/new-brunswick/cannabis-nb-launches-farmgate-program-1.6152860?__vfz=medium%3Dsharebar
Canadian cannabis producers have sold less than 20% of output since adult-use legalization
You are so hilarious, how can LPs have taken 50% of business away from the Blackmarket when they are selling less then 20% of their weed, Laughing my butt off at your "everything is going too be ok speculation and hype.
"Cannabis producers in Canada have sold less than 20% of their production since the country launched adult-use sales in October 2018, according to an MJBizDaily analysis.
The newest data – which runs through 2020 – implies that most of the cannabis produced from 2018 through last year was either stored in inventory or destroyed, and less than one-fifth ended up in retail stores.
That disconnect likely helps explain how the largest Canadian cannabis producers, which account for most of the industry’s production, together have lost more than 11 billion Canadian dollars ($8.8 billion) cumulatively.
Some industry experts blame poor-quality cannabis for the sales shortfall.
“Good stuff sells,” said Ian Dawkins, principal consultant of British Columbia-based Althing Consulting.
Roughly 2.7 billion grams (2,976 tons) of cannabis were produced in Canada between October 2018 and December 2020, but MJBizDaily estimates that approximately 450 million grams reached store shelves.
To arrive at the figure, MJBizDaily asked every provincial wholesaler how much cannabis they sold over a specific period of time. That data was combined with Health Canada’s limited sales figures, which end in October of 2019. Data for Saskatchewan was provided by Seattle-based data-analytics firm Headset.
So why have sales been so low relative to production?
Av Singh, cultivation expert at Nova Scotia-based Flemming & Singh Cannabis, believes Canada’s largest licensed producers didn’t have the know-how needed to produce cannabis at the scale they told their investors they could.
“Canadian LPs were quick in trying to capture as much of the market as possible, often building inferior facilities that were not designed to produce quality cannabis,” Singh said.
But Singh also said Canada’s provincial and federal governments should shoulder some of the blame for throwing up “roadblock after roadblock” as the new industry was getting off its feet.
“Countries should legalize cannabis when governments have addressed their own stigma and preferably addressed the systemic racism associated with the criminalization of cannabis consumers,” he said.
Orphaned inventory
Of the 2.7 billion grams of cannabis produced between 2018 and 2020, 1.1 billion grams were stored in inventory and at least 450 million grams were destroyed by producers for various reasons, per Health Canada data.
Another 6 million packages of dried cannabis, extracts and edibles were destroyed.
Experts believe that most of the unpackaged inventory currently sitting in warehouses across the country, which is almost 40% of overall production, is unsellable.
“I think it’s a sign of a fundamental disjunction in the market,” Althing Consulting’s Dawkins said of the unsold inventory.
“There is increasing demand, an increasing appetite for different products, and yet all of this product is overhanging. I don’t think that product’s ever going to move. It’s orphaned forever.
“We have to get to a place where we recognize that this has become a mature commodity market, and if your product isn’t moving , it’s because no one wants it and never will,” he said.
Dawkins said the mountain of stored and destroyed cannabis is not reflective of the brands that are selling well.
Indeed, the Canadian market in May rang up record sales of recreational cannabis.
“The companies that are succeeding at this don’t destroy any excess inventory,” he said.
“If you’re producing enough cannabis to have any kind of leftover inventory, you have fundamentally misunderstood the market.
“All of the stuff being sold is coming from companies that are producing products that people want, to such an extent that they sell out of the distribution system as soon as they drop.”
Major expansion
The production capacity expansion needed to produce 2.7 billion grams of cannabis was rapid.
By late 2017, investors had bankrolled more than enough cultivation area to meet recreational cannabis demand.
But billions of dollars continued to flow into the largest greenhouses, fueled by stock-market investors who valued cannabis companies solely on how much marijuana they could produce (using the “funded capacity” industry term) and executive bonuses partially tied to massive greenhouse buildouts, MJBizDaily previously reported.
In October 2018, the month legal cannabis sales started, Canadian producers controlled 452,896 square meters of growing area licensed for cannabis cultivation, according to Health Canada data.
A year later, that figure had tripled to 1,366,861 square meters.
By the end of 2020, that number was more than four times higher, 2,040,093 square meters.
That made cannabis the fourth-largest greenhouse crop in Canada by area – a level of production significantly out of step with demand.
“People entered the market too quickly, not fully understanding the importance of quality and how to cultivate quality,” cultivation expert Singh said.
“The mentality of money over quality is flawed, but unfortunately for most of those who entered the cannabis space, it was not their own money.”
Singh said large producers underestimated a number of factors in that scale-up, leading to a significant amount of cannabis being produced that was ultimately unsaleable, including:
The importance of quality as well as the infrastructure and knowledge required to grow quality flower.
The increased challenges of pests and pathogens as well as qualified and available labor.
Mitchell Osak, president of Toronto-based Quanta Consulting, said the inventory situation “is about to accelerate like a hockey stick” because of all the outdoor production and new craft production entering the system.
Canadian licensed producers added a record 220,461 kilograms of marijuana to their inventories in October 2020.
But Osak also said some licensed producers are better at producing in-demand cannabis at appropriate prices than others.
“I think we’re moving to a place in the industry where you have some LPs that are regularly turning their production inventories and adroitly managing demand-driven production, and some LPs that are going to have a massive inventory problem,” he said.
“Inventory challenges are becoming more acute when companies launch new products and formats – i.e. inventory – into the market, not to mention increasing the overall complexity of the operations and financial management.”
Billions in losses
After selling less than a fifth of the cannabis produced between 2018 and 2020, many of the biggest greenhouses that drove cannabis share prices higher amid the cannabis stock market mania of 2018-19 have been sold off for pennies on the dollar.
One example is Canopy Growth’s BC Tweed joint venture in British Columbia.
Before Canopy spent nearly CA$500 million ($400 million) to acquire the remaining one-third interest of the joint venture it didn’t already own, the company had poured CA$644 million into the two B.C. greenhouses and other facilities.
The B.C. properties ended up selling for only CA$40.6 million.
The two companies that shuttered the most facilities, Alberta-headquartered Aurora Cannabis and Ontario-based Canopy Growth, have also reported the steepest losses.
Canopy has lost CA$3.8 billion since its inception; Aurora has run a CA$4.1 billion deficit.
Neither company has ever reported a profit.
Accumulated net losses by Canadian cannabis producers to date (pre-mergers).
TOTAL LOSSES: $12.5 billion
You do know your investment money is either Lost or in the fat wallets of weed executives, Why don't investors consider facts and truth instead of speculation and denial?
WEED: $3.8 billion
APH: $561 million
HEXO: $701.2 million
SNDL: $714.5 million
TLRY: $1.3 billion
ACB: $4.1 billion
TGOD: $436 million
OGI: $245.9 million
ZENA: $240 million
Quote Tweet
Matt Lamers
@matt_lamers
TOTAL COMPENSATION FOR Flag of Canada CANANBIS CEOs (latest disclosures, some are former)
D Klein (WEED)—$42 million
I Simon (APH)—$18M
K Schmidt (CRON)—$12.5M
S St-Louis (HEXO)—$11M
Z George (SNDL)—$5M
B Kennedy (TLRY)—$4.3M (2019)
T Booth (ACB)—$5M
B Athaide (TGOD)—$1M
G Engel (OGI)—$628k
Show this thread
Accumulated net losses by Canadian cannabis producers to date (pre-mergers).
— Matt Lamers 🌻 (@matt_lamers) July 6, 2021
TOTAL LOSSES: $12.5 billion
WEED: $3.8 billion
APH: $561 million
HEXO: $701.2 million
SNDL: $714.5 million
TLRY: $1.3 billion
ACB: $4.1 billion
TGOD: $436 million
OGI: $245.9 million
ZENA: $240 million https://t.co/V76nrV9bdL
Canadian cannabis producers have sold less than 20% of output since adult-use legalization
"Your Speculation denies all facts and truth about cannabis"
Cannabis producers in Canada have sold less than 20% of their production since the country launched adult-use sales in October 2018, according to an MJBizDaily analysis.
The newest data – which runs through 2020 – implies that most of the cannabis produced from 2018 through last year was either stored in inventory or destroyed, and less than one-fifth ended up in retail stores.
That disconnect likely helps explain how the largest Canadian cannabis producers, which account for most of the industry’s production, together have lost more than 11 billion Canadian dollars ($8.8 billion) cumulatively.
Some industry experts blame poor-quality cannabis for the sales shortfall.
“Good stuff sells,” said Ian Dawkins, principal consultant of British Columbia-based Althing Consulting.
Roughly 2.7 billion grams (2,976 tons) of cannabis were produced in Canada between October 2018 and December 2020, but MJBizDaily estimates that approximately 450 million grams reached store shelves.
To arrive at the figure, MJBizDaily asked every provincial wholesaler how much cannabis they sold over a specific period of time. That data was combined with Health Canada’s limited sales figures, which end in October of 2019. Data for Saskatchewan was provided by Seattle-based data-analytics firm Headset.
So why have sales been so low relative to production?
Av Singh, cultivation expert at Nova Scotia-based Flemming & Singh Cannabis, believes Canada’s largest licensed producers didn’t have the know-how needed to produce cannabis at the scale they told their investors they could.
“Canadian LPs were quick in trying to capture as much of the market as possible, often building inferior facilities that were not designed to produce quality cannabis,” Singh said.
But Singh also said Canada’s provincial and federal governments should shoulder some of the blame for throwing up “roadblock after roadblock” as the new industry was getting off its feet.
“Countries should legalize cannabis when governments have addressed their own stigma and preferably addressed the systemic racism associated with the criminalization of cannabis consumers,” he said.
Orphaned inventory
Of the 2.7 billion grams of cannabis produced between 2018 and 2020, 1.1 billion grams were stored in inventory and at least 450 million grams were destroyed by producers for various reasons, per Health Canada data.
Another 6 million packages of dried cannabis, extracts and edibles were destroyed.
Experts believe that most of the unpackaged inventory currently sitting in warehouses across the country, which is almost 40% of overall production, is unsellable.
“I think it’s a sign of a fundamental disjunction in the market,” Althing Consulting’s Dawkins said of the unsold inventory.
“There is increasing demand, an increasing appetite for different products, and yet all of this product is overhanging. I don’t think that product’s ever going to move. It’s orphaned forever.
“We have to get to a place where we recognize that this has become a mature commodity market, and if your product isn’t moving , it’s because no one wants it and never will,” he said.
Dawkins said the mountain of stored and destroyed cannabis is not reflective of the brands that are selling well.
Indeed, the Canadian market in May rang up record sales of recreational cannabis.
“The companies that are succeeding at this don’t destroy any excess inventory,” he said.
“If you’re producing enough cannabis to have any kind of leftover inventory, you have fundamentally misunderstood the market.
“All of the stuff being sold is coming from companies that are producing products that people want, to such an extent that they sell out of the distribution system as soon as they drop.”
Major expansion
The production capacity expansion needed to produce 2.7 billion grams of cannabis was rapid.
By late 2017, investors had bankrolled more than enough cultivation area to meet recreational cannabis demand.
But billions of dollars continued to flow into the largest greenhouses, fueled by stock-market investors who valued cannabis companies solely on how much marijuana they could produce (using the “funded capacity” industry term) and executive bonuses partially tied to massive greenhouse buildouts, MJBizDaily previously reported.
In October 2018, the month legal cannabis sales started, Canadian producers controlled 452,896 square meters of growing area licensed for cannabis cultivation, according to Health Canada data.
A year later, that figure had tripled to 1,366,861 square meters.
By the end of 2020, that number was more than four times higher, 2,040,093 square meters.
That made cannabis the fourth-largest greenhouse crop in Canada by area – a level of production significantly out of step with demand.
“People entered the market too quickly, not fully understanding the importance of quality and how to cultivate quality,” cultivation expert Singh said.
“The mentality of money over quality is flawed, but unfortunately for most of those who entered the cannabis space, it was not their own money.”
Singh said large producers underestimated a number of factors in that scale-up, leading to a significant amount of cannabis being produced that was ultimately unsaleable, including:
The importance of quality as well as the infrastructure and knowledge required to grow quality flower.
The increased challenges of pests and pathogens as well as qualified and available labor.
Mitchell Osak, president of Toronto-based Quanta Consulting, said the inventory situation “is about to accelerate like a hockey stick” because of all the outdoor production and new craft production entering the system.
Canadian licensed producers added a record 220,461 kilograms of marijuana to their inventories in October 2020.
But Osak also said some licensed producers are better at producing in-demand cannabis at appropriate prices than others.
“I think we’re moving to a place in the industry where you have some LPs that are regularly turning their production inventories and adroitly managing demand-driven production, and some LPs that are going to have a massive inventory problem,” he said.
“Inventory challenges are becoming more acute when companies launch new products and formats – i.e. inventory – into the market, not to mention increasing the overall complexity of the operations and financial management.”
Billions in losses
After selling less than a fifth of the cannabis produced between 2018 and 2020, many of the biggest greenhouses that drove cannabis share prices higher amid the cannabis stock market mania of 2018-19 have been sold off for pennies on the dollar.
One example is Canopy Growth’s BC Tweed joint venture in British Columbia.
Before Canopy spent nearly CA$500 million ($400 million) to acquire the remaining one-third interest of the joint venture it didn’t already own, the company had poured CA$644 million into the two B.C. greenhouses and other facilities.
The B.C. properties ended up selling for only CA$40.6 million.
The two companies that shuttered the most facilities, Alberta-headquartered Aurora Cannabis and Ontario-based Canopy Growth, have also reported the steepest losses.
Canopy has lost CA$3.8 billion since its inception; Aurora has run a CA$4.1 billion deficit.
Neither company has ever reported a profit.
Matt Lamers is MJBizDaily’s international editor, based near Toronto. He can be reached at matt.lamers@mjbizdaily.com.
https://mjbizdaily.com/canadian-cannabis-producers-have-sold-less-than-20-percent-of-output-since-2018/
The word Hypocritical comes too mind when I read your posts.
You have condemned me for skirting taxes by going too the Native Reserve to buy products such as Gas and Smokes.
you champion for Stockmarket weed executives that over price their weed and doing so forces consumers too pay more tax then they should.
You support Government regulation that shutdown local Native cannabis businesses, so as too fill the shelves with Controlled products.
And criminalize small gardeners for privately selling their produce, Hell The natives Paid know taxes and used cannabis for Trade and Barter.
YEP I KNOW EXACTLY WHO YOU ARE. A TYPICAL STOCK TRADE
I'm certified too test cannabis through a process called thin layer chromatograph, a New York lab, held class in Hamilton sold the test kits and hand outs determining genetics, Cannabinoid levels +-1%, and Terpeans % present. One thing I can tell you, Fat wallet branding false when stating genetics, and none of legal weed being tested is owned (Proprietary) to any stockmarket weed corporations, all owned and breed by Legacy breeders like Steve, and the 100s seed companies with 4 decades of experience, Happy is getting very old very quick, licensed Craft and legacy companies are skyrocketing, while Weed CEOs are stuffing their pockets with investors money, Keep Shorting soon the exits will be full.
The False Equivalency Factor: Canada’s Cannabis Purchase & Possession Limits Are A Recipe For Confusion
All you have too understand is that there are no Possession Limits when buying licensed cannabis online, as opposed too physically buying and walking out of a retail store with more then the equivalency of 30 grams, because buying online you take no possession until it arrives by Post at your private residence. I have said all along Government sanctioned regulations will drown the stockmarket retail, here is the stupidity of Cannabis in Canada.
The answer is that each listing represents the maximum legal purchase and public possession amount for each product. That’s right. That’s the most you can carry on your person and stay within the bounds of the law. It’s also the most that you can buy at any one time at a cannabis retail store. Try to buy a six-pack of cans of Houseplant sparkling water and the budtender will turn you down flat. Five-packs are fine though! Or, if you are really feeling it, grab 1,000 packs of dissolvable powder!
The cannabis law treats seven hash joints, 23 jars of salve, 30 grams of flower, 30 seeds, 1,000 packs of powder and 6,420 capsules exactly the same way. Never mind that the amount of THC in each is wildly different. Never mind that the ability to accidentally (or purposefully) take too much is wildly different. If you have 31 grams of flower in your pocket you could be arrested. If you have six-pack of cans of mild drink, you are a criminal! But fill your boots – literally – with capsules or powder.
What a mess.
Why This Matters
It would be laughable if the consequences weren’t so serious. Obviously, the primary concern is turning people into criminals for no good reason. That’s unconscionable.
There are other negatives for retailers and consumers. For help understanding those issues, I asked Andrea Dobbs, co-founder of the Vancouver cannabis retail store The Village Bloomery: “It puts us in a very awkward situation. People travel to come see us and when they are told they’ve ‘reached their limit’ on a product that is inert like a bath bomb, they’re aghast. This has happened often enough that we printed up a card that invites them to write to the BC Liquor Distribution Branch and copy us to express their frustration.”
I love the advocacy, but the real culprit here isn’t the BCLDB (though pressuring them will also pressure the federal government so keep on doing it). The whole mess exists because we treat cannabis very differently from other legal products by imposing a 30-gram possession limit and making it a crime to exceed it. That’s ludicrous.
Why This Matters
It would be laughable if the consequences weren’t so serious. Obviously, the primary concern is turning people into criminals for no good reason. That’s unconscionable.
There are other negatives for retailers and consumers. For help understanding those issues, I asked Andrea Dobbs, co-founder of the Vancouver cannabis retail store The Village Bloomery: “It puts us in a very awkward situation. People travel to come see us and when they are told they’ve ‘reached their limit’ on a product that is inert like a bath bomb, they’re aghast. This has happened often enough that we printed up a card that invites them to write to the BC Liquor Distribution Branch and copy us to express their frustration.”
I love the advocacy, but the real culprit here isn’t the BCLDB (though pressuring them will also pressure the federal government so keep on doing it). The whole mess exists because we treat cannabis very differently from other legal products by imposing a 30-gram possession limit and making it a crime to exceed it. That’s ludicrous.
The Equivalency Factor: ‘Just A Lot Of Head Shaking’
Other products get caught up in the mess because of a little something called the “Equivalency Factor.” This is an imaginary number meant to represent the relationship between a non-flower product and a gram of dried cannabis (see section 2(4) of the Cannabis Act, and schedule 3). The Equivalency Factor is calculated based on weight of the product and is different for different product categories. It isn’t related to THC – the primary active ingredient – at all.
That’s why you can buy lots of powdered THC, but very few 12oz cans, even though the powder is meant to be dissolved into a drink. It’s also why you can buy 42 of one type of chocolate bar but only 14 of another, even though each package contains exactly the same amount of THC – one company just has a bigger chocolate bar and so you reach your weight limit on those much more rapidly.
Andrea made clear that consumers understand how silly the equivalency factor is. “We get frustrated when we have to try to explain the equivalencies because everyone in the room understands that weight or volume has nothing to do with potency. There is just a lot of head shaking.”
Somebody needs to give their head a shake, that’s for sure.
As you can see, none of this makes any sense, and as such, it leads to absolutely nonsensical outcomes. It infantilizes consumers. And it is completely, totally, incredibly arbitrary. Now I’m no lawyer, but I once read that an arbitrary law that imposes criminal consequences on people violates section 7 of the Canadian Charter of Rights and Freedoms. I doubt we ever see anybody charged for having six cans instead of five, but consumers and retailers are justifiably upset about having to follow these silly rules.
Frankly, I think it demeans the integrity of the entire system to have such nonsense like the equivalency factor on the books. Andrea agrees: “This situation creates more distrust between government agencies and cannabis producers, retailers, and consumers. When their approach isn’t logical, we all suffer.”
The good news is that we are still in the infancy of legal cannabis, and the entire system is slated for a review in October 2021. A key outcome of that review must be getting rid of the limits on what people can buy and possess legally. We need to start treating cannabis the same way we treat other legal products.
Once that happens, all these absurd false equivalencies will disappear.
"Don't expect Hellth Canada too change anything"!
https://cannabishealth.com/false-equivalency-factor-canada-cannabis-limits/
Accumulated net losses by Canadian cannabis producers to date (pre-mergers).
TOTAL LOSSES: $12.5 billion
WEED: $3.8 billion
APH: $561 million
HEXO: $701.2 million
SNDL: $714.5 million
TLRY: $1.3 billion
ACB: $4.1 billion
TGOD: $436 million
OGI: $245.9 million
ZENA: $240 million
· Jun 30
TOTAL COMPENSATION FOR Flag of Canada CANANBIS CEOs (latest disclosures, some are former)
D Klein (WEED)—$42 million
I Simon (APH)—$18M
K Schmidt (CRON)—$12.5M
S St-Louis (HEXO)—$11M
Z George (SNDL)—$5M
B Kennedy (TLRY)—$4.3M (2019)
T Booth (ACB)—$5M
B Athaide (TGOD)—$1M
G Engel (OGI)—$628k
This is the truth in stockmarket weed financials, Whos the loser?
The only losers are the investors giving their investment money too be pocketed by the fat wallet weed executives and their Celebrity mouthpieces. Zero profits in 6 years of business.
Accumulated net losses by Canadian cannabis producers to date (pre-mergers).
— Matt Lamers 🌻 (@matt_lamers) July 6, 2021
TOTAL LOSSES: $12.5 billion
WEED: $3.8 billion
APH: $561 million
HEXO: $701.2 million
SNDL: $714.5 million
TLRY: $1.3 billion
ACB: $4.1 billion
TGOD: $436 million
OGI: $245.9 million
ZENA: $240 million https://t.co/V76nrV9bdL
Something seriously messed up when it cost more for 8 1/4 pinner joints from a stockmarket weed corporation then it costs too buy 25 king size doob's from a friend or source at a party. FYI when socializing returns there will be no need for weed from the fat wallets. With all the quality private cannabis companies that are licensed for ecommerce sales, LPs will be crushed, Time to cash out, or stay on the sinking ship with the ones that hold your money.
Maybe this is why investors are so off the mark, This is not just 2018, destroying 500 TONS of product "Since" 2018 and still continuing to this minute, and the reasons has been stated, 1. the quality of stockmarket weed corporations is subpar and not of sellable quality, and 2. these over scale commercial weed corporations are growing so much bunk weed that Canadian weed inventories/supply are a 1000 times consumer demand, if you can't figure out if by reading the facts 'GET OUT" investing is not your best occupation.
As well in the last year 100s of private legacy/craft businesses have been licensed and eating up online demand, High Cost stockmarket corporations are dead in the water, with over priced bunk weed products.
https://www.budplanet.net/product-category/on-sale/
https://nakedcannabis.co/concentrates/
https://kushkings.cc/product-category/edibles/
Accumulated net losses by Canadian cannabis producers to date (pre-mergers).
TOTAL LOSSES: $12.5 billion
WEED: $3.8 billion
APH: $561 million
HEXO: $701.2 million
SNDL: $714.5 million
TLRY: $1.3 billion
ACB: $4.1 billion
TGOD: $436 million
OGI: $245.9 million
ZENA: $240 million
The real financial truth and reality of stockmarket weed corporations, are you going too listen too his lies and forward looking statements? as he pockets your investment money as salary for a job not well done.
TOTAL COMPENSATION FOR 🇨🇦 CANANBIS CEOs (latest disclosures, some are former)
— Matt Lamers 🌻 (@matt_lamers) June 30, 2021
D Klein (WEED)—$42 million
I Simon (APH)—$18M
K Schmidt (CRON)—$12.5M
S St-Louis (HEXO)—$11M
Z George (SNDL)—$5M
B Kennedy (TLRY)—$4.3M (2019)
T Booth (ACB)—$5M
B Athaide (TGOD)—$1M
G Engel (OGI)—$628k
Your sales numbers are useless and irrelevant when Tweed has inventory of hundreds of thousands of kilograms that can't sell because of poor quality, and most of their oversupply is being destroyed at a huge loss and right downs, not to mention a loss of your investment money.
The data also covers: Inventory vs Sales for cannabis edibles. It's plainly obvious this trend is not sustainable. pic.twitter.com/ecxA75Ncnc
— Matt Lamers 🌻 (@matt_lamers) April 9, 2021
White House still opposes legalizing cannabis (Newsletter: July 15, 2021)
Schumer: We don't have the votes for marijuana bill; Booker will block cannabis banking before justice reform; VA gov too busy to try legal marijuana
White House still opposes legalizing cannabis (Newsletter: July 15, 2021)
— Marijuana Moment (@MarijuanaMoment) July 15, 2021
Schumer: We don't have the votes for marijuana bill; Booker will block cannabis banking before justice reform; VA gov too busy to try legal marijuana https://t.co/Cxo54IoTVP
Democratic senators move to decriminalize marijuana at the federal level.
Still listening too the lies from Tweed executives, Truth is this is not federal legalization bill it is only no longer a crime on federal law, and simply leaves State and Municipalities too make there own laws & regulations and even have the opped-out clause just like Ontario, which has 8 no retail counties and fines for possession. He's also lying too shareholder money bags, as all CGC will never be is a Hemp/CBD/Wellness company in the US, They will Never break into cannabis in States that have been legalized for a decade and even a tiny share in newly/future legal states.
When are investors ever going too look at true weed fact instead of Hemp CBD speculation you do see the difference right?
https://abcnews.go.com/Politics/democratic-senators-move-decriminalize-marijuana-federal-level/story?id=78829343
And Government sanctioned over regulation has already begun in the US
https://hightimes.com/news/delta-8-products-regulated-by-michigan/#comment-352347
If you are Canadian you would obviously know that other then 3 weeks of Covid, all licensed retail were deemed a essential service and most were open 12 hr days, with curbside pickup, and yet, all the stockmarket weed corporations are losing 100s of millions of dollars per/Q and are destroying 30% of their plants because of poor quality and a way lower sales then expectation, What does this say? I will give you the answer, but don't tell anyone, Supply/inventory equals a 1000X Demand. This is not too mention CGC only has 12% of total legal sales.
So if Tesla produced 4 million cars a year and was only selling 1.2 million while losing millions a Quarter would that still make it a $300 a share stock?
BTW there are over 700 privately licensed cannabis companies in the last 2 years, these are the companies that are CGCs competitors, Yes sales have increased, with 100s more cannabis varieties at way more affordable prices, Investors don't see the factual truth about stockmarket weed, enjoy your stock winnings, but stay away now it isn't 2018 it has opened.
https://www.budplanet.net/
https://nakedcannabis.co/concentrates/
Canadian producers destroyed over 500 tons of cannabis since 2018
Do Investors not get it? Inventory/Supply is a 1000X Demand, this is why the fat wallets are losing you investment money, Stop being scammed.
Canadian producers have destroyed millions of packaged cannabis products and hundreds of tons of unpackaged marijuana since adult use was legalized in late 2018, according to data acquired by MJBizDaily.
Industry experts suggest the large-scale destruction reflects a variety of factors, ranging from low-quality product to a lack of retail outlets and stockpiling ahead of the 2020 launch of Cannabis 2.0 products such as edibles and concentrates.
The destroyed production underscores the woes licensed producers have faced the past three years and sheds light on the sheer amount of cannabis that has gone unsold in Canada since the launch of recreational marijuana sales in the country in October 2018.
Roughly 447,118 kilograms – or nearly 500 tons – of unpackaged dried cannabis was destroyed by licensed producers between 2018 and 2020, according to the data provided to MJBizDaily by Health Canada, the federal body tasked with regulating cannabis production in the country.
However, the actual amount in tons of destroyed cannabis is believed to be much higher because the unpackaged figure doesn’t account for packaged cannabis – defined by Health Canada as marijuana held in stock and ready for sale.
In addition to the nearly 450,000 kilograms of destroyed unpackaged cannabis, almost 6 million packages were destroyed in 2019 and 2020.
Those destroyed packages consisted of:
3,783,397 packages of dried cannabis.
1,500,396 packages of extracts.
714,491 packages of edibles.
943 packages of topicals.
Health Canada did not say why the cannabis was destroyed by producers, but industry sources cite various reasons for regular destruction, including:
Clogged sales channels, as provinces opened stores slowly in the early years of legalization.
Cannabis was produced before appropriate licenses had been secured, such as a sales license.
Low-quality production.
Production for testing only.
Producers stockpiling cannabis in 2019 for the launch of 2.0 products, such as edibles and most extracts, in 2020.
Moreover, the overall amount of destroyed cannabis has been growing steadily since late 2018.
Reported destroyed unpackaged dried cannabis from October to December 2018 was 11,548 kilograms, or 10% of production.
A year later, that total rose to 155,780 kilograms, or 15% of production.
In 2020, Canadian licensed producers destroyed 279,837 kilograms of unpackaged cannabis, or almost 20% of the 1,473,767 kilograms of dried cannabis produced that year.
“In commercial horticulture, a 5%-8% annual loss can be expected due to insect infestations, plant disease, crop failures and bad weather. If companies are destroying 15% or more of their inventory, it should be very alarming to owners and shareholders,” said Ryan Douglas, owner of the Ryan Douglas Cultivation consultancy and master grower for Canopy Growth predecessor Tweed from 2013 to 2016.
“Massive waste and repeated crop failures in commercial horticulture are the exceptions, not the norm, and it’s no way to run a profitable business.”
Bursting inventories
As of the end of 2020, roughly 1,141,092 kilograms of dried cannabis were sitting in inventories of federal license holders, provincial wholesalers and retailers. Ninety-five percent was with federal license holders.
The inventoried cannabis combined with the destroyed products reveals that a minimum of 1,591,092 kilograms of cannabis went unsold as of the end of 2020.
Douglas noted that any new industry has its growing pains.
In this case, Canadian cannabis executives clearly were looking at overly rosy sales forecasts. That, in turn, led to large stockpiles of unsold product and excessive production capacity.
“I think the excitement and easy access to capital helped to exacerbate the issue in Canada,” Douglas told MJBizDaily.
If the product was destroyed because it was unsaleable, Douglas said, that would indicate producers were unable to grow quality cannabis as they scaled up their output.
He said that likely stemmed from a couple of factors.
“One, the quality wasn’t there in the first place,” he said.
“Second, many head growers didn’t have the experience to handle a massive jump in production capacity. Going from 20,000 square feet indoors to more than 100,000 square feet of greenhouse production is a giant leap.
“If a cultivation team doesn’t have experienced leadership to manage this change, the end product will suffer.”
‘Infested with aphids and mildew’
Mary Durocher, president of Fox D Consulting in southwestern Ontario, said the levels of destruction indicate an oversupply of poor-quality cannabis as well as a lack of diversity of cultivars coming to market – something upcoming markets in other countries could learn from.
She said some large-scale cannabis producers in Canada have been seeing crop losses of 30% annually.
Agricultural industries such as corn, soybeans and wheat typically see around 5% crop loss, she said.
“Publicly traded producers who have product that is unsaleable will store it and destroy small amounts quarterly so it doesn’t affect their financial statements,” she said.
“There are producers out there who have had product for four years sitting in their vaults. They’re waiting to destroy it so it doesn’t look bad and it doesn’t affect their books.
Durocher said the large amount of stored and destroyed cannabis is indicative of companies lacking experience growing cannabis at such a large scale.
“We have a lot of product infested with aphids and mildew,” she said.
“I haven’t seen a client have anything less than a 20%-30% crop loss annually. That’s pretty standard for the industry, but most people won’t tell you that.”
How destruction happens
Karina Lahnakoski, a partner of Deloitte’s risk advisory practice, said the actual federal regulation doesn’t prescribe the method of destruction.
Because there is no regulation behind how you must destroy the cannabis, companies can use one of several methods, she said.
“The kitty-litter method,” where cannabis waste is combined with kitty litter before disposal, is still a method license holders are using. “It’s not very efficient,” Lahnakoski said.
“A lot of companies have moved to incineration or a composting method,” she said. “The requirement is you break down the cannabis so it can’t propagate or can’t be consumed, so it’s not taken from the waste stream.
“It is completely up to the company, and we haven’t seen a standard.”
“Generally, if a company doesn’t have a lot of waste, they still tend towards that kitty-litter method, but larger companies are starting to move towards incineration.
“I’ve seen one company that has built-in their own incinerator because they anticipated having more waste.”
Matt Lamers is MJBizDaily’s international editor, based near Toronto. He can be reached at matt.lamers@mjbizdaily.com.
https://mjbizdaily.com/canadian-producers-destroyed-over-500-tons-of-cannabis-since-2018/
Canopy Growth rewarded 3 executives with salary raises (albeit v. small ones), exactly 1 week after the company reported a $1.7 billion annual loss
Recent regulatory filing: "Your Base Salary shall be increased to six hundred fifteen thousand Canadian dollars and no cents"
This is the 2nd consecutive year Canopy has given out executive raises after reporting a steep loss.
Canopy net losses for fiscal years ended March 31:
2015—$9.3 million
2016—$3.5 million
2017—$7.6 million
2018—$67.3 million
2019—$712 million
2020—$1.4 Billion
2021—$1.6 Billion
Does this look like a $300 a share stock? Posts like this are a joke of speculation and hype.
This is the 2nd consecutive year Canopy has given out executive raises after reporting a steep loss.
— Matt Lamers 🌻 (@matt_lamers) June 17, 2021
Canopy net losses for fiscal years ended March 31:
2015—$9.3 million
2016—$3.5 million
2017—$7.6 million
2018—$67.3 million
2019—$712 million
2020—$1.4 Billion
2021—$1.6 Billion
Not in Canada, and Not in US for a very long time if ever !!
Don’t Expect Senate Marijuana Banking Vote Any Time Soon, Key Chairman Says
While the House approved the Secure and Fair Enforcement (SAFE) Banking Act this week along largely bipartisan lines, Senate Banking Committee Chairman Sherrod Brown (D-OH) said the proposal hasn’t won his support just yet “because I think we need to look at a number of things.”
Schumer told Marijuana Moment this week that he doesn’t think it is wise for the Senate to pass cannabis banking legislation before tackling more comprehensive reform, because the more modest proposal would likely attract Republican members and undermine efforts to get support for the broader legalization legislation he’s working on.
“This committee’s been too much about Wall Street and not enough about housing, not enough about rural and urban affairs and people’s everyday economic lives, and that’s my focus,” Brown said. “I will look at this seriously. We’re not ready to move on it.”
Crapo said he opposed the reform proposal, but he signaled that he might be more amenable if it included certain provisions viewed as untenable to the industry, including a two percent THC potency limit on products in order for cannabis businesses to qualify to access financial services as well as blocking banking services for operators that sell high-potency vaping devices or edibles that could appeal to children.
https://www.marijuanamoment.net/dont-expect-senate-marijuana-banking-vote-any-time-soon-key-chairman-says/
Accumulated net losses by Canadian cannabis producers to date (pre-mergers).
— Matt Lamers 🌻 (@matt_lamers) July 6, 2021
TOTAL LOSSES: $12.5 billion
WEED: $3.8 billion
APH: $561 million
HEXO: $701.2 million
SNDL: $714.5 million
TLRY: $1.3 billion
ACB: $4.1 billion
TGOD: $436 million
OGI: $245.9 million
ZENA: $240 million https://t.co/V76nrV9bdL
Exactly, This describes what BC Bud was before legalization, People that have no clue about cannabis 4 years ago. Late 80s through the 90s are when all these so called legal genetics were created, Up & Down the West Coast, back and forward over the border, Stockmarket Weed corporations own no genetics, or have contributed Crap too Cannabis History.
Your being scammed, and being feed crap, CO2 is nothing new, and Green Idiots don't own anything.
CO2 is used in 2 different processes, first in plant growth like this which has been used for over a decade, including med growers, its available in Hydroponic and grow stores, in canasters across Canada. And secondly in the production of cannabis oil, which we all know what happened with that, CGCs oil Sales were so bad The Ontario Cannabis store sent literally all of it back.
Laughable fact, Tweed couldn't grow in their Ontario greenhouses that they sold without pest and mold issues, how do you think Green will do in OZ Land?