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CANNABISCANADAon Sep 11, 2021 7:23am
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Part TWO
Part TWO  A pair of analysts look into projected August sales figures from Hifyre, which tracks roughly 80 per cent of the country's cannabis market. BMO Capital Markets Analyst Tamy Chen sees the Canadian market remaining "fragmented and highly competitive" despite sales rising by two per cent from the prior month to nearly $350 million. The top nine licensed producers tracked in August 2020 represented 78 per cent of the Canadian market, but now account for 61.5 per cent, Chen noted. Chen also highlighted how Aurora Cannabis and Canopy Growth are all poised to see sales declines in their current quarter given the various challenges in the retail space. Cantor Fitzgerald's Pablo Zuanic highlights recent sales growth by Organigram and Auxly, two smaller producers which have gained market share at the expense of bigger operators. Zuanic sees Organigram on pace for a significant sales beat when reporting its summer financial quarter, while Hexo and Tilray point to low single-digit growth. Also of note was the rise in sales of pre-rolls, which were up 27 per cent in the combined July-August months, outpacing the overall market growth of 10 per cent. |
CANNABIS SPOT PRICE: $5.17 per gram — This week's price is down 0.2 per cent from the prior week, according to the Cannabis Benchmark’s Canada Cannabis Spot Index. This equates to US$1,860 per pound at current exchange rates.
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