Once earnings gets posted and Canopy has already lost market share and could very well continue it's slide ...
Over all sales declined here and and in market share losses??? No wonder short sellers are smelling blood !
Canada’s retail marijuana sales decline to CA$353.7 million in November
Retail sales of legal adult-use marijuana dipped to 353.7 million Canadian dollars ($282.5 million) in November, a 2.9% decline from October’s monthly sales record.
The falling dollar sales figure occurred in a price-competitive retail environment as Canadian cannabis prices dropped throughout 2021.
November was also the first monthly sales decline in Canada since February 2021, ending a streak of eight consecutive months of growth.
Last November, recreational cannabis sales declined on a month-over-month basis in every province except Ontario, the largest market, and Saskatchewan, according to figures released Friday by Canada’s federal data agency Statistics Canada.
Ontario sales increased by 1.9% over October to CA$148.4 million, a new provincial record that accounted for nearly 42% of all Canadian legal recreational cannabis sales in November.
Farther west in the prairie province of Saskatchewan, monthly sales rose by 1.5% to CA$14 million.
November sales and month-over-month sales decreases in the remaining provinces were as follows, in declining order of market size:
- Alberta: CA$59 million (-6.6%)
- Quebec: CA$48.9 million (-6.8%)
- British Columbia: CA$47.8 million (-5.3%)
- Manitoba: CA$13 million (-6.5%)
- Nova Scotia: CA$7.4 million (-8.2%)
- New Brunswick: CA$6.2 million (-13%)
- Newfoundland and Labrador: CA$5.4 million (-6.3%)
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Retail cannabis sales for the province of Prince Edward Island and for Canada’s three territories were not reported, with Statistics Canada citing confidentiality requirements of the Statistics Act.
Monthly sales in selected Canadian cities were:
- Toronto: CA$51.3 million (+3.7%)
- Montreal: CA$25.8 (-5.1%)
- Edmonton, Alberta: CA$20.2 million (-6.8%)
- Calgary, Alberta: CA$16.5 million (-5.5%)
- Vancouver, British Columbia: CA$16.2 million (-2.7%)
- Ottawa, Ontario: CA$15.2 million (+4.7%)
- Winnipeg, Manitoba: CA$8.8 million (-5.8%)
- Quebec City: CA$5.5 million (-7.9%)
- Gatineau, Quebec: CA$1.7 million (-6.7%)
Statistics Canada’s November cannabis sales figures are available here.