I think Vancouver city becomes a ninja once every year.
The whole place disappears in a plume of smoke every 4th April at exactly 4:20p.m, it’s uncanny-bis!
It’s really come such a long way, from being the devil’s lettuce to the holy herb.
Being the most talked-about legal product of the century, many people thought it was just a passing fad. Yet, today, states that capitalized on it early are now making immense profits.
Ha take that, it’s not just a phase!
Now, with gold in their eyes, those naysayers are jumping on the legalization bandwagon. Recently, Canada’s fully embraced legal cannabis. However, the road ahead has been bumpy and whipping up storms of unpredictability.
Yet, even in the face of such adversity, there are a few spectacular companies that are standing headstrong, facing the wind and weathering the storm.
The current state of the market
Many investors and analysts thought that legalization would immediately bring big profits. But oh no, the only big thing they got was a surprise.
The market suffered some...problems to say the least. Personally, I think it could’ve worked if they were more tactful about it.
First of all, there wasn’t enough pot to go around for everyone. Check this, Ontario’s a state with a population of 14.5 million. You’d think they would at least grant a couple of thousand licenses but no. They granted…
Twenty-four.
You’d think with only 24 retail licenses granted, they’re probably elite growers, right?
Wrong.
To add insult to injury, these retail licenses were awarded by lottery. Completely picked at random.
It’s like..imagine someone throwing a 4/20 party and saying you’re gonna bring the best plug ever. Then that plug turns out to be someone’s cousin’s cousin. And their only stock consists of half a dime bag.
But on the bright side, they’ve been picking their game up recently.
In September, Canadians bought 11,707 kilograms of the herb. But producers had a total of about 165,000 kilograms of stuff ready for sale. More than enough…?
Still, 75% of people prefer their neighborhood dealers over a dispensary. They’re cheaper, easier. The only reason why most people would go to the dispensary is to buy cool accessories like bongs, vapes, pipes. These can be purchased online easily at stores like SmokeCartel.com but it’s still convenient to get them from a dispensary if you need them quickly.
As for edibles, surprisingly there’s very little demand for them. People want to smoke, not eat. Probably edibles would’ve been a hit if it was produced and marketed sooner but that’s a tale for another time.
Canopy Growth
As the biggest name in the cannabis game, Canopy wasn’t always the giant it is today. It started off as a little sprout named Tweed.
Founded by Bruce Linton and Chuck Rifici in 2013, it was fortunately renamed in 2015 after a merger with Bedrocan Canada.
Things weren’t always smooth-sailing for them though. They’ve closed down two massive greenhouses in BC and abandoned another one near their HQ in Ontario, stating recreation legalization is slower than anticipated.
Canopy is currently rethinking its strategies to tackle the market. Other than shutting down facilities, they’re pulling back from certain international markets to focus on Canada, the US, and Germany. They’re thinking that’s where the money’s at.
Aurora Cannabis
Founded in 2006, Aurora Cannabis is a highly successful producer based in Edmonton. With over 8 licensed production facilities, 5 sales licenses they’ve expanded globally. With an influence in over 25 counties, they’re growing as the second-largest cannabis company in the world.
Like their competitors, Aurora has also faced a fair share of obstacles. In order to centralize, they’ve closed five production facilities across the country in June.
Tilray
Founded in 2013, Tilray is a Canadian pharmaceutical and cannabis company based in Ontario.
5 years from it’s making, Tilray took one small step for decriminalization and one huge leap for legalization. They became the first company to legally export medical cannabis to the US for clinical testing.
As for this hero’s tragic backstory, they’re going through problems right now. With COVID rampant, the company has been forced to lay off many employees.
Tilray is managing to stay afloat currently due to international sales. Most of it consisting of their non-smokeable/non-combustible medical cannabis products.
