The Financial Post reports in its Wednesday, April 10, edition that soaring expectations for Canada's cannabis industry are being tempered after licensed producers posted underwhelming financial results in the first postlegalization period. The Post's Vanmala Subramaniam writes that over the past few months, the biggest cannabis companies in the country -- Canopy Growth, Tilray, Aurora Cannabis, Aphria, Cronos Group and Canntrust Holdings -- have been reporting earnings reflecting the early months of recreational sale. In some cases, the sales figures were microscopic in relation to the valuations the companies are carrying. PI Financial analyst Jason Zandberg says: "Sales and revenues have been absolutely horrible post-legalization. Clearly the market is overpriced and many of these companies have gotten ahead of themselves in valuations." Statistics Canada says just $307-million of legal weed has been sold in the last quarter of 2018 for both adult-use and medical consumption postlegalization, versus $1.17-billion in sales from the black market. Legal sales to date are far below many prelegalization forecasts. In 2018 Deloitte predicted recreational sales alone could generate up to $4.34-billion in 2019.