Absolutely Wrong, the closures of grow space has nothing to do with "The Virus", they are forced to close and lay off because legalization in Canada was over hyped, over sold, and Cannabis sales, revenue and distribution is nowhere close to Expectations. LP inventories are at ridicules levels and because of all this production must SLOW, contrary to what you speculate, the Cannabis sector is in dire trouble because very few cannabis users are buying legal weed, and the return customers are sinking weekly along with LP stocks.
Canadian indoor grow capacity to decline 7% on Canopy’s announced cuts
Published March 5, 2020 | By Michael Regan and Craig Behnke
New Canopy Growth CEO David Klein is already imposing discipline upon the Canadian market by closing a staggering 58% of the Ontario company’s existing indoor production capacity and 29% of its total production area.
This move equates to a 7% reduction of the total Canadian indoor grow area, as reported by Health Canada, as of November 2019 and gives Canopy 5% of total indoor growth area for the country but 27% of total outdoor grow area.
This reduction in industry capacity will reduce supply and help balance Canada’s cannabis oversupply, ultimately to the benefit of pricing – assuming these greenhouses stay closed and Canopy does not just sell them to another operator.
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