Weekly Cannabis Commentary

Cannabis Industry Performance

Source: FRC

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.

Valuation

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.

Source: S&P Capital IQ, FRC

The following chart shows the average EV/R of the companies we track in both countries:

Average EV/R

Source: S&P Capital IQ, FRC

Canadian Retail Cannabis Pricing

Source: Online Provincial Cannabis Stores, FRC 

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 Dried Cannabis Flower Pricing

Source: Online Provincial Cannabis Stores, FRC 

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.

Nationwide Store Count

Source: Provincial Websites, FRC

Weekly Psychedelic Commentary

Psychedelic Industry Performance

Psychedelic Industry Performance

Source: TMX Money, FRC

 

Last week, Cybin Inc. (NYSE: CYBN) announced they filed two international patent applications for their psychedelic compounds. Cybin’s portfolio has 14 patent filings.

Weekly Cannabis Commentary:

Source:https://www.researchfrc.com/weekly-cannabis-commentary-98