The Canadian adult-use cannabis market continued to decelerate in the third Quarter of 2022 when taking Year-Over-Year (YoY) trends, with Quarter on Quarter (QoQ) sales up 3%, according to Cantor Fitzgerald's Pablo Zuanic.
Despite significant mergers and acquisitions (M&A) and attempted consolidation among the Canadian LPs, as time progressed, sales have become more and more fragmented, he added.
How Does This Affect Cannabis Companies?
According to data collected by the law firm Miller Thomson, Canadians who invested in marijuana businesses have lost more than $131 billion, calculated by the total losses of 183 publicly traded and licensed cannabis producers.
"If broken down per capita would equate to each Canadian citizen losing about $43,000," the firm noted.
Many are now pointing the finger at the federal government's rollout of legalization while noting that the black market is thriving, reported CTV National News.
Bankruptcy Should Not Be A Solution
Levon Kostanyan, a retail cannabis shop owner, opened his doors in September 2021. Twelve months later he was forced to close though he's got another three years on his lease. With …