Cannabis market is huge, bonus for Canadian companies
Last year, Canadians spent an estimated C$5.7B on combined medical and recreational use marijuana, about $1,200 per user.
The CEO of a California-based cannabis company put out an ad this morning (16 Sept, 2018) in the Wall Street Journal begging the US president to act fast, saying American cannabis companies are being left in the dust.
A handful of Canadian cannabis companies have successfully raised billions on American stock exchanges like the New York Stock Exchange and Nasdaq, but thanks to federal laws that forbid them from operating in the US, every cent of that capital is heading north of the border.
With Canada’s Oct. 17th legalization, the discussion around how the immense wealth of the North American cannabis industry will be distributed is heating up.