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Cannabis Summary for May 12, 2021

2021-05-12 20:20 ET - Market Summary

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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index lost 9.73 to 180.81, while the CSE Composite Index lost 18.00 to 785.26. South of the border, U.S. MSO (multistate operator) Columbia Care Inc. (CCHW) lost 28 cents to $7.27 on 498,300 shares, despite trumpeting the creation of a "national retail experience" to "educate, inspire and serve." In non-promoter-speak, it is rolling out its first national brand.

Columbia Care has chosen the brand name Cannabist. "Over and over, the market has been searching for expertise and trust -- consumers wanted a Cannabist to help guide them through their journey," declared chief executive officer Nicholas Vita. Cannabist staff will receive "extensive training not offered at other dispensaries." What this means is not clear, but presumably the schmoozing will be just as important as the science. Mr. Vita said he wants customers and employees to "engage in conversations that enhance the shopping experience."

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