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by Stockwatch Business Reporter
The S&P/TSX Cannabis Index lost 3.20 to 75.78, while the CSE Composite Index lost 13.55 to 466.33. Canadian cannabis sales saw their first monthly decline in eight months, dipping to $353.6-million in November, according to new data from Statistics Canada. October's figure was a record $364.1-million.
This is the first time that monthly sales have dropped since February, 2021. A dip also occurred from October to November, 2020. In all of these cases, the lower figure is primarily the result of fewer calendar days in February and November relative to January and October.
Although nationwide sales dropped last November, the nation's largest cannabis market bucked the trend with a monthly increase. Ontario's sales rose to $148.3-million in November from $145.6-million in October. Cannabis stores in Ontario continue to open at a rapid clip, with 1,399 stores operational across the province as of this morning, up from about 350 this time last year.
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