Is the Pot industry going bust?

[Chyren]

As the new news in Lumby about the True Leaf project not going as planned, has the industry as a whole been overvalued or is this just the start of larger companies taking over in the end? Thoughts?

https://www.castanet.net/news/Vernon/27 ... n-facility

[DetectivePikachu]

Well they don’t have a license to grow product or sell edibles.


I hope you don’t take this unique situation as indicative of the entire Industry.

[Chyren]

This isn't the only example of a pot company having difficulties. My thoughts are is there seems to be a central trend at this time that the money wagon that was to be the pot industry hasn't panned out.

[the truth]

they will be just fine if they drop there prices by at least 25%, And they will still make hundreds of millions profit. until then the black market will survive and they know it.. unless they really are that stupid

[alanjh595]

They don't have to drop their prices. They supply a market that is not being serviced by the black market.

How long before the government implements laws like they have on the alcohol/tobacco industry? (It's okay to make your own, but if you sell it, Revenue Canada will take everything you own for tax evasion).

It's just a matter of time. Not a matter of "IF".

Even these "You brew" places have very strict rules. They can do everything for you, EXCEPT put the cork in the bottle.

[bob vernon]

There have been many projects planned and some of them are just huge. Massive greenhouses. And I wonder if the investors did any investigation of the future. For example, Oregon where weed has been legal for a few years, has told their producers that the state can't handle any more. They have warehouses with enough weed stockpiled to last between 6 and 7 years. The demand in Canada won't be much more than Oregon's. And we will be able to grow a few plants at home for personal use.

This project in Lumby, now looking for partners, could be a symptom of the coming glut in the industry. I hope that these huge growops can switch to growing vegetables to earn a few dollars. The industry has likely vastly overestimated demand for their product.

[1791]

Truth is. Weed game is a tuff living. The guys who are good at growing. Are all still illegal. Partner up with the feds is not an option for those guys. Legal weed is just a bunch of johnny come lately types trying to get rich . Basically the blind leading the blind. Cannabis act is a total joke. At this point i would like to see it repealed.

Yes the industry is in the toilet. Has wasted billions on shops that are too small or too expensive to ever make money.
Can not produce a good product under the current laws.

Weed likes to get sick indoors. Could be bugs. Could be mildew. Could be anything. When that happens there are many sprays that a person might rry and use. However government limits these. This creates many crops that have to be junked.

The only way to make real money in thw weed game is tax free. Black market. That is why you see companies breaking the law. They have to.

[dontrump]

As the new news in Lumby about the True Leaf project not going as planned, has the industry as a whole been overvalued or is this just the start of larger companies taking over in the end? Thoughts?

https://www.castanet.net/news/Vernon/27 ... n-facility

The whole Industry got Grossly overvalued last year add in HC takes forever to give a license add in the Black Market still makes up over 60% of all sales add in the provincial governments(no surprize) tare taking forever to give out permits for retail stores ;; its taking a lot of the Licensed producers a lot longer time to establish a grow op grow weed ,process it and sell it
Take one of Many examples ZENA bragged last fall they were going to be the biggest weed producer in Canada ; the shares were at $6.75 so far they only produce about 2000KG per month and cant sell all of it to boot the shares closed today at 18 cents the whole industry got Blown way out of proportion and totally exaggerated and like said the BM is still killing it out there
as we all know when a government is in charge it usually ends up a total failure and so far that's what we see here today

[dontrump]

to add to my story this just out today

Canadian cannabis producers and extractors are sitting on a massive stash of unfinished inventory that is growing so quickly that some analysts are concerned it could precipitate a price crash in the burgeoning industry.

Since January of 2019, the amount of unfinished inventory of dried cannabis has nearly tripled, reaching a staggering 328,000 kilograms at the end of August. That compares to roughly 118,000 kilograms eight months earlier, according to Health Canada data.

[bob vernon]

Like alcohol, the retail sale of weed is regulated. An oversupply won't necessarily mean a drop in price at the gumment stores. But it might mean a price drop on the black market. But the best thing to do is just get some seeds and grow a plant or two for your own use.

[Gixxer]

Domestically it maybe a bust at this point, but long term when the rest of the world legalizes Canada producers will be a head of the game and ready to supply internationally.

[jimmy4321]

NB Cannabis is going to go to the private sector, they are also considering getting out of the liquor business.
I give this a , government shouldn't be running these things , just regulating them.

[dodgerdodge]

And then this article today:

https://www.castanet.net/news/BC/270522 ... crack-down

Interesting to see that they are saying ALL pot shops even those on reserve land have to abide by the rules.
Good luck with that i say.

[1791]

And then this article today:

https://www.castanet.net/news/BC/270522 ... crack-down

Interesting to see that they are saying ALL pot shops even those on reserve land have to abide by the rules.
Good luck with that i say.

Desperate clowns. Grasping at straws. Weed is supposedly legal.

[1791]

https://www.castanet.net/news/Business/ ... ver-retail