Canopy Growth Corp (WEED)

[Wo]

Globe and Mail

Wo: for some reason, the article doesnt have a working link. Im checking again.

Come this fall, pot aficionados won’t have to go to seedy parts of town to replenish supplies because they’ll be able to buy cannabis legally, in licensed stores. If you believe Ottawa, the provinces and the CEOs of dozens of publicly traded pot companies, over the next few months, the black market in recreational weed will be magically transformed into a legitimate industry.

Bruce Linton, CEO of Canopy Growth Corp., Canada’s largest medical cannabis producer, is pumped. He thinks there will be lineups at stores. “Some people say they’ll go through their opening inventory in five weeks,” he says. “I’m going with five days.”

Investors are psyched too, forging a roaring bull market in pot stocks on the premise that legitimate producers will wrest most of the $5.7-billion marijuana market from the vast network of unlicensed purveyors. Those public companies’ combined market value is now close to $30 billion – almost three times the market cap of Canada’s TSX-listed engineering firms – despite minimal revenues and practically no profits.

But things might not turn out according to the hype