Small Changes In Canadian Market Share Are Creating Major Ripples Across Canadian Licensed Producers
According to leading cannabis analytics firm Hifyre, Canopy Growth Corporation (TSX: WEED) (Nasdaq: CGC) and Aurora Cannabis Inc. (TSX: ACB) (Nasdaq: ACB) have been especially impacted by the change in the market conditions in Canada. For the calendar quarter that ended on December 31st, Canopy Growth’s market share fell to 8.6% from 10% in the prior quarter. For Aurora Cannabis, its market share fell to 2.8% from 3.7% in the previous quarter.
Remember the company update in October that reported Heritage sales up 28% over the summer and Aurora and Canopy sales down. If so it's not surprising that Heritage was also gaining market share at the same time. Heritage recently reported 17% market share in Ontario non hash concentrate sales. That means the popular high THC categories like Diamonds, Resin, Rosin, Shatter, Sugar, Caviar, and other variations of concentrated goodness :)
People sometimes forget that Canada has the same population size as California, and has barely been tapped compared to the Golden State. To me Canada is a safer growth play due to government backed receivables. During uncertain times it's good to know you'll get paid. It's not that way in the US. Looking forward to seeing more receivables in the Heritage ledger when they report next week :) glta
Heritage Cannabis Announces Corporate Update and Highlights Significant Sales Growth
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