The worldwide pandemic and following lockdowns impacted nearly each sector of the economic system. And the Canadian hashish business was no exception.
Grownup-use hashish retail gross sales within the nation skilled sequential progress of barely 4% within the first quarter of 2021, in comparison with the 12% surge seen in This fall 2020, and 31% in Q3 2020. This growth, nonetheless, may solely be “partly defined by the COVID lockdown,” in keeping with Cantor Fitzgerald’s analyst Pablo Zuanic.
With the Q1 earnings season approaching, some could count on it to have a constructive affect on hashish operators. However the analyst doubts it. In truth, he notes, the Canadian Marijuana Index has fallen by 50% since its February peak. Throughout the identical interval, the U.S. Marijuana Index dropped by 33%, whereas the AdvisorShares Pure US Hashish ETF (NYSE: MSOS) solely misplaced 23% of its worth.
The drop within