08:51:06 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc
Symbol ACB
Shares Issued 1,020,378,291
Close 2019-11-05 C$ 4.93
Market Cap C$ 5,030,464,975
Recent Sedar Documents

FP says Canopy, rivals sitting on "massive" weed stash

2019-11-06 09:05 ET - In the News

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

The Financial Post reports in its Wednesday edition that cannabis producers and extractors are sitting on a massive stash of unfinished inventory that is growing so quickly that some analysts are concerned it could precipitate a price crash in the burgeoning industry. The Post's Vanmala Subramaniam writes that since January, 2019, the amount of unfinished inventory of dried cannabis has nearly tripled, reaching a staggering 328,000 kilograms at the end of August. That compares with about 118,000 kg eight months earlier. Health Canada defines unfinished inventory as the amount of cannabis held in stock by a "cultivator or processor that is not packaged, labelled and ready for sale." With sales of dried flower reaching just 13,000 kg in August, that means total inventory tracked by Health Canada was nearly 30 times the industry's monthly sales rate. Canaccord Genuity analyst Matt Bottomley says, "If a large proportion of that 328,000 kilograms is dried bud, that's going to be a big problem for the LPS. ... I suspect it'll be a race to the bottom with price because everyone now has more than enough supply." Mr. Bottomley notes that Canopy Growth, Tilray and Aurora Cannabis are a week away from posting earnings.

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