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Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,013,134,389
Close 2019-04-22 C$ 12.32
Market Cap C$ 12,481,815,672
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Globe says Hexo, rivals hear 20% of pot spending legal

2019-04-22 07:54 ET - In the News

See In the News (C-HEXO) Hexo Corp

The Globe and Mail reports in its Saturday, April 20, edition that six months after legalization, Ottawa insists there is enough weed even though Statistics Canada says otherwise. The Globe's guest columnist Michael Armstrong writes that supplies, however, are finally improving. Ontario is clearly short of cannabis, despite being six months into legalization. Ontario's shortage is not unique. According to Statscan only one-fifth of national cannabis spending is legal. Health Canada denies any national shortage, though its own data show otherwise. The Globe says misleading spin helps no one. Statscan's April 10 report estimated unlicensed dry cannabis averaged $6.79 a gram before legalization. That declined to $6.51 in late 2018 and $6.28 in early 2019. Meanwhile, the data show the legal recreational average rose from $9.89 to $10.52. Mr. Armstrong's own check of Ontario's on-line prices recently found the average offering was $12.34. Mr. Armstrong says the federal Liberals can reasonably claim legalization as a policy success despite its imperfections. However, if they keep hiding the rollout's imperfections, their rival's accusations of blundering will seem increasingly apt.

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