Cannabis in Canada

It's not so easy for a heavily regulated legal market to compete with an unregulated black market.  The NY Times has the story:

After ‘Green Rush,’ Canada’s Legal Pot Suppliers Are Stumbling. Most marijuana producers in Canada are still reporting staggering losses two and a half years after legalization.  By Ian Austen

"When Prime Minister Justin Trudeau’s government’s legalized marijuana in 2018, a primary goal was to create a more equitable justice system — not a major new business sector.

"Investors, however, thought otherwise, and in the time leading up to legalization, a “green rush” swept the Toronto Stock Exchange. Money poured into companies starting up to service not only the Canadian market, but also eyeing other opportunities, particularly the U.S. market, where more states were embracing legalization.

...

"Even with a slight recovery propelled by the spreading legalization in the United States — New York legalized marijuana last month, and voters in four states backed legalization in November — one marijuana stock index is still down about 70 percent from its peak in 2018.

"Two and a half years after legalization, most marijuana producers in Canada are still reporting staggering losses.

"And a major new competitor is looming: Mexico’s lawmakers legalized recreational pot use last month. So the business climate for Canada’s growers could become even more challenging."