Three Cannabis Stocks Cashing in on Canada’s Supply Shortage
HOUSTON, TX / ACCESSWIRE / February 14, 2019 / Months after Canada legalized cannabis, the country is running low.
In fact, Aurora Cannabis Inc. CEO Terry Booth says he “loses sleep” over the industry’s ability to supply the global market. “It will be at least five years until we have an oversupply situation,” he said, as quoted by The Financial Post.
However, this is nothing new. Canada has been struggling with cannabis shortages since recreational cannabis was approved in October 2018. Provinces, which control the distribution and sales of cannabis just aren’t seeing enough product from producers to meet demand.
That bottleneck is creating opportunity. In fact, with demand outpacing supply, many investors are watching cannabis stocks such as Blissco Cannabis Corp. (CNSX: BLIS) (OTCQB: HSTRF), Canopy Growth Corporation (TSX: WEED)(NYSE: CGC), and Aurora Cannabis Inc. (NYSE: ACB).
Blissco Cannabis Corp. (BLIS)(HSTRF) is a Canadian wellness cannabis brand based in British Columbia and a multi-licensed cultivator, processor, and distributor of premium cannabis with sizable growth in store.
“This is an exciting time for Blissco as we ship more than 85,000 cannabis units in Canada over the next seven weeks,” said Blissco CEO, Damian Kettlewell. “Blissco’s team is committed to delivering innovative, quality assured full spectrum cannabis products and providing personal and informative client care. It is vital that we have the best team to make this vision a reality.”
The company also just announced the addition of new Chief Technology Officer, Robin Killeen; Brand and Public Relations Director Jennifer Engele; and Marketing Manager Cesar Chung.
For More Information on Blissco Cannabis Corp., Click Here.
Canopy Growth Corporation (CGC)(WEED) is quickly expanding its business, as well.
Most recently, the company announced it would make a significant investment of $100 million and $150 million to create a large-scale hemp production facility in New York over the next 100 days. It’s currently looking at sites in the Southern Tier of the state, notes Bloomberg.
The company will release its third quarter financial report today with investors looking forward to a read on how it’s done since Canada legalized recreational sales.
For More Information on Canopy Growth Corp., Click Here.
Aurora Cannabis Inc. (ACB) is racing to new highs after announcing it made substantial progress on boosting its annual capacity. Production, noted the company, increased 57% quarter over quarter to 7,822 kilograms thanks to expansion projects at its Aurora Sky greenhouse.
In its most recent quarter, the company posted C$54.2 million in revenue, an 83% increase quarter over quarter. However, it also posted a loss of $237.75 million thanks to investments in other cannabis companies. The bulk of its revenue came from the 15,430 pounds of cannabis it sold, as compared to the 17,465 pounds of cannabis produced.
For More Information on Aurora Cannabis Inc., Click Here.
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