Up to 1 Million Kilos of Marijuana Production Has Been Cut in Canada for 2020 [The Motley Fool]
HEXO Corp. - Common Shares (HEXO)
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Source: The Motley Fool
Up to 1 Million Kilos of Marijuana Production Has Been Cut in Canada for 2020 At this time last year, there arguably wasn't a hotter or more popular investment opportunity Between 0 and 08, worldwide weed sales more than tripled to $0.9 billion State of the Legal Cannabis Markets But one year has made a world of difference in the cannabis space. Image source: Getty Images. Sales expectations fall off a cliff in Canada The near-exponential initial rise in marijuana sales simply hasn't materialized in Canada, because of a host of regulatory and procedural issues For one, regulatory agency Health Canada hasn't been able to effectively tackle a nearly insurmountable number of cultivation, processing, and sales license applications. It entered the year with more than 800 license applications on its desk, which in many instances has meant that brand-name pot growers are waiting months, if not longer than a year, before getting the go-ahead to produce and/or sell their product. Canada has al
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