When Canada became the second country in the world, after Uruguay, to legalize cannabis, weed companies were viewed as pioneers in “the green frontier.” Their stocks and their fortunes soared. They suddenly became rock stars.

Not Enough Weed To Go Around

With legalization, long lines to buy legal cannabis got longer. Eager to dispel media stories about product shortages, Health Canada adjusted its approval processes and bumped those with existing assets to the front of the line.

But, by late 2019, the market flipped into oversupply, and that’s where it is today.

Large producers began to grow more cannabis, outproduce their competition, drive down production costs and flood the market with weed products.

Then The Inevitable Happened

Between January and December 2021, licensed growers were forced to destroy huge quantities of unsold product – up to one-quarter of all dried cannabis produced.

While 2021 …

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