Weekly Cannabis Commentary
Cannabis Industry Performance
Last week, shares of both Canadian and U.S. cannabis companies declined 4% despite positive news from both countries:
- Statistics Canada reported record nationwide adult-use cannabis sales of $319M in June, up 58.5% YoY
- Michigan and Illinois reported record cannabis sales in July.
- New Jersey is expected to start selling recreational cannabis by January 2022.
As of August 23, 2021, the Canadian big four LPs were trading at a 70% premium (up from 69% in the previous week) over their U.S. peers.
The following chart shows the average EV/R of the companies we track in both countries:
The average retail price per gram fell week-over-week from $11.15 to $11.14. The chart below shows the Canadian retail dried cannabis flower pricing trend:
Canadian Retail Cannabis Stores
As of August 23, 2021, there are 2,451 retail cannabis stores, a week-over-week increase of three stores, across Canada.
Weekly Psychedelic Commentary
Psychedelic Industry Performance
Last week, Cybin Inc. (NYSE: CYBN) announced they filed two international patent applications for their psychedelic compounds. Cybin’s portfolio has 14 patent filings.