05:54:39 EDT Sat 20 Apr 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,014,099,913
Close 2019-06-14 C$ 10.13
Market Cap C$ 10,272,832,119
Recent Sedar Documents

FP says Canopy, rivals hear weed oversupply looms

2019-06-14 06:48 ET - In the News

See In the News (C-WEED) Canopy Growth Corp

The Financial Post reports in its Friday, June 14, edition that a growing number of analysts and industry observers say Canada's cannabis shortage -- a problem that has plagued the industry since legalization last October -- may be coming to an end. The Post's Vanmala Subramaniam writes that some see an entirely new problem possibly emerging, as early as next year. Industry analyst Chris Damas is forecasting an oversupply in dried cannabis by January, 2020. Mr. Damas has calculated that 76,112 kilograms of dried cannabis were produced in the first quarter of 2019. He projects that by the fourth quarter, this number will soar to almost 150,000 kilograms. By his calculations, that is enough to supply 617 retail stores with an average of 20 kilograms of dried cannabis a week. However, he says, the number of stores that will be approved and operational by the beginning of the fourth quarter will be 400, at most. A recent Scotiabank report, by cannabis analyst Oliver Rowe, reached a similar conclusion, with a slightly longer time horizon. Mr. Rowe notes licensed cannabis producers are complacent because few believe that they will be the ones unable to sell their product.

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