Weekly Cannabis Commentary
Cannabis Industry Performance
Last week, U.S. cannabis stocks outperformed their Canadian peers. Several key developments:
- NY Governor emphasized that the state is committed to implementing its marijuana program as quickly as possible.
- The Idaho Supreme Court overturned a new law that would have impeded medical marijuana legalization.
- New Mexico increased the amount medical cannabis consumers can purchase per visit to two ounces per day, up from eight ounces every 90 days.
As of August 30, 2021, the Canadian big four LPs were trading at a 72% premium (up from 70% 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 $11.14 to $11.13. The chart below shows the Canadian retail dried cannabis flower pricing trend:
Canadian Retail Cannabis Stores
As of August 30, 2021, there are 2,479 retail cannabis stores, a week-over-week increase of 28 stores across Canada, including 25 in Ontario, two in Alberta, and one in B.C.
Weekly Psychedelic Commentary
Psychedelic Industry Performance
Last week, California lawmakers ruled that any attempts to decriminalize psychedelics will have to wait until 2022. However, the lawmakers cited growing evidence of psychedelics’ ability to treat substance abuse, and psychiatric disorders.