The Financial Post reports in its Tuesday, July 30, edition that one Wall Street bank attempted to estimate how many pot dispensaries may be needed across North America to garner optimal legal sales. A Bloomberg dispatch to the Post reports that the magic number is about three dispensaries per 100,000 people, Seaport Global Securities said in a note. Seaport reviewed dispensary counts by state and province across North America, along with data available on industry sales receipts.
In Canada, it is no secret the nation's store rollout has been slower than expected in the two most populated provinces of Ontario and Quebec. "Based upon our rule of three, we would argue that Ontario needs a total footprint of 403 stores," up from the current figure of about 23. Additionally, Seaport estimated Quebec needs a total footprint of 245 stores, up from about 16, analyst Brett Hundley wrote. In all, Canada may need about 1,055 pot stores for the industry to see its true potential, Seaport added.
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