Six months after cannabis was legalized in Canada, many of the people who entered the sector in search of a financial windfall appear ready to turn their attention elsewhere, according to analysts at an investors' conference in Toronto.
Six months after cannabis was legalized in Canada, many of the people who entered the sector in search of a financial windfall appear ready to turn their attention elsewhere.
Reasons cited for the pessimism around Canada included advertising restrictions making it difficult to build a popular brand, consumers being unsure where to find trustworthy knowledge about cannabis and the slow rollout of retail distribution in Ontario and B.C., which has left many Canadians with no easy access to a physical cannabis store.
“The U.S. is ... the biggest and best market in a lot of industries, and I think in the cannabis industry it is,” he said. “I think the U.S. is really the most interesting market today, and I saw that from the perspective of a licensed Canadian producer ... with one of the largest market shares in the country,” Hexo Corp. CEO Sebastien St-Louis said.
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