There seems to be a doom and gloom all over the stock market these days. I found some positive news on cannabis sales in Canada from Statistics Canada and reported by Stockwatch. I thought, I would share excerpts from the report on this board. I hope that these numbers will affect Tilray in a positive way and that financial results that should be reported in July will be good. I hope that good financial results will burn shorts sooner rather than later. We need some positive news.Here it is: "The S&P/TSX Cannabis Index added a fraction to 41.53, while the CSE Composite Index lost 8.59 to 279.08. Canadian cannabis sales notched another monthly record in April, according to new data from Statistics Canada. The agency estimated April's nationwide cannabis sales at $372.4-million. This is up from $359.2-million in March and up from the prior record of $355.4-million last October.
While April has one less day than March, something that often leads to sequential dips in other months, there is one day in April that can offset this calendrical quirk: the unofficial cannabis holiday known as 4/20. This occurs annually on April 20 and is the largest shopping day of the year for cannabis retailers. This year, the average Canadian cannabis store enjoyed a 65-per-cent jump in one-day sales on Wednesday, April 20, relative to the prior four Wednesdays, according to analytics firm Headset.
Not every province benefited from a 4/20 sales bump. Notably, while sales in Canada's largest market, Ontario, rose to $150.1-million in April from $144.8-million in March, sales in the third-largest market, British Columbia, actually fell to $52.8-million from $56.3-million. Sales in Ontario continue to benefit from more store openings. There were over 1,500 cannabis stores in Ontario in April, up from around 1,300 at the start of the year. By contrast, the store count in British Columbia has been relatively stable, rising to 436 in April from 426 at the start of the year.
In any case, nationwide cannabis sales were sturdy enough to set a new record of $372.4-million in April. The above-mentioned Headset is forecasting a slight pullback to $366-million in May. Statistics Canada will release its May sales data on July 22."
Let's be positive!
GLTA longs!
Don