Is the Pot industry going bust?

[dontrump]

The black market works because there's low overhead, a large distribution system and it's self governing. No legal cannabis company can compete with that! By allowing individuals to grow up to four pot plants the government has inadvertently strengthened the black market; there's little to no fear of getting caught anymore. On the other hand, making it illegal to grow would have been a win for cannabis companies but more so for the black market. As it stands now, if the government lowers taxes on cannabis the black market just follows so I can't see how cannabis companies can profit. Funny because it was the government that said the legalization of marijuana will slow or eradicate the black market. I think it has strengthened it!

agreed and when did the government ever get involved in anything that worked out fairly?

[Vacancyrate]

There is a 400 ton, 2.5 years worth of demand stockpile of cannabis right now.

https://www.ft.com/content/546b9226-0c7 ... c8d9dc6d84

Who is going to buy 2.5 year old pot at full price? Retailers are not allowed to mark prices down or have "sales/deals" and LP's are selling their bone dry product to retailers at full price. Because legal retailers can't buy from anyone else there is no reason for a LP to adjust prices, no matter how old the product is. Retailers are forced to buy year-old stock at full price or let their shelves remain empty. Nice little scam.

Anyone investing into the industry or operating a legal grow is going to take it in the shorts. All the millions of square feet of legal grows coming online will be adding to a 2.5 year old giant pile of overpriced, irradiated and dust dry cannabis that nobody wants to buy.

Expect lots of closures and massive layoffs of $15/hr grower jobs.

[1791]

It is the blind leading the blind. Sucks for those who got caught up in it. Many saw this coming way before it happened.

[one wheel]

It was all Super Hype from the start & lots of people bought into the idea on someone else's word that they were gonna get rich if you buy in now ?
Did they think that BC was the only place that knew how to grow the stuff ?
Grow -Ops were going to be built huge everywhere in the Okanagan, remember the talk of building a 750,000 sq.ft. operation on the old mill site in OK Falls ?
As always some made money & some lost, but the Black Market is still rolling.

[dontrump]

It was all Super Hype from the start & lots of people bought into the idea on someone else's word that they were gonna get rich if you buy in now ?
Did they think that BC was the only place that knew how to grow the stuff ?
Grow -Ops were going to be built huge everywhere in the Okanagan, remember the talk of building a 750,000 sq.ft. operation on the old mill site in OK Falls ?
As always some made money & some lost, but the Black Market is still rolling.

Yes the number one mistake the government and the industry made was they did not stop the BM in fact they aided it by over charging the public on legal weed products
If You watch the news over the last 12-14 months the number of grow op bust is down like 95% which tells me the cops are no longer prioritizing this field of crime and that's just wrong on the rcmp part

[1791]

LOL. Captain Cam has fled Canada for Australia. Gonna go build up a pot industry there. LOL. Hope the Australians are smart enough to not invest one dollar with these idiots.

Aurora Cannabis shares fall after COO steps down - Business News - Castanet.net
https://www.castanet.net/news/Business/ ... steps-down

[dontrump]

I know one thing for sure if the federal police force does not re introduce enforcement on grow ops the whole industry will suffer yet another terrible year of sales
The federal government just dropped off the radar when its comes to closing down grow ops

[bob vernon]

Legislation allows Canadians to have up to four plants per household at one time, or up to 1 kilogram of weed at a time. More than enough to process into brownies, cookies, and other edibles. The recipes to infuse THC from leaves into butter are all over the internet and that butter is substituted in any recipe.

There's no need to go to an illegal supplier. There's no need to go to a government store. Anybody can supply themselves with all they want. Of course the weed industry is struggling. There's no demand to buy.

Smoking weed is disgusting and it makes your clothes stink. Eating homemade goodies is the future. By far the cheapest, the healthiest, the tastiest.

[dontrump]

Legislation allows Canadians to have up to four plants per household at one time, or up to 1 kilogram of weed at a time. More than enough to process into brownies, cookies, and other edibles. The recipes to infuse THC from leaves into butter are all over the internet and that butter is substituted in any recipe.

There's no need to go to an illegal supplier. There's no need to go to a government store. Anybody can supply themselves with all they want. Of course the weed industry is struggling. There's no demand to buy.

Smoking weed is disgusting and it makes your clothes stink. Eating homemade goodies is the future. By far the cheapest, the healthiest, the tastiest.

Here are the real facts::
actually very few people grow their own weed its been found;; your allowed a possession limit of 30grams when out of your property its well documented that The BM still has about a 65% market share(huge) police enforcement for the most part is non existent check the news and see how many row ops were shut down in the last 6-9 months ?
There is a huge demand for weed but as said the BM is filling most of that need which has now led to a total country wide over supply of legal weed Boyed by the Greedy government and its taxes

[1791]

https://www.castanet.net/news/Business/ ... hare-issue

[bob vernon]

You guys keep going to the stores and paying their prices. My experience with a plant or two at a time (40+ years) and low profile (only for my own and close friends use) and my recipes will give us a fine end to 2019. World Junior hockey, final weekend of the NFL, and a trayful of cookies coming out of the oven.

[1791]

Why Canada's cannabis bubble burst https://www.bbc.co.uk/news/world-us-canada-50664578


Wow even the BBC is reporting on the fools who thought Johnny Come Lately was gonna get them rich.

Truth is most of these companies are run by cops or politicians. Neither of which have any experience growing and selling weed. No one wants to feed cops and politicians . These are the same people who kept weed illegal and locked people up over weed. They are clowns. They deserve to go broke

[Vacancyrate]

They deserve to go broke

The insiders won't go broke. This was always a pump-and-dump scheme.

"Legal weed is going to be huge!"
"More jobs than oil and gas!"
"People will buy more pot than groceries!"

They created the companies, sold the stock and pushed the hype and many got out before the year-old $70 dollar irradiated 1/8's hit the stores. The Government literally told the RCMP to back down to protect stock prices.

One set of gangsters to another.

[1791]

They deserve to go broke

The insiders won't go broke. This was always a pump-and-dump scheme.

"Legal weed is going to be huge!"
"More jobs than oil and gas!"
"People will buy more pot than groceries!"

They created the companies, sold the stock and pushed the hype and many got out before the year-old $70 dollar irradiated 1/8's hit the stores. The Government literally told the RCMP to back down to protect stock prices.

One set of gangsters to another.

Cheers to the foolish who invested with these crooks.

[dontrump]

The Government literally told the RCMP to back down to protect stock prices

LOL kids will say the darndist things these days