This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

The S&P/TSX Cannabis Index edged down a fraction to 121.52, while the CSE Composite Index lost 3.00 points to 450.68. Statistics Canada has released new monthly data for the cannabis industry, showing retail cannabis sales of $231.6-million in July, 2020, up from June's level of $201.1-million. This is a new sales record and the biggest monthly jump since cannabis was legalized in October, 2018.

Records, of course, are relatively easy to set in a burgeoning industry, but the new data should nonetheless soothe some concerns that earlier month-over-month increases, specifically after March, were largely the result of consumers "stocking up" to ride out COVID-19. The figures suggest that new stores and new products are drawing in new customers. This bodes especially well for Ontario, which is the largest market -- contributing $60.1-million of the July sales -- yet has about one-third the number of stores relative to the second-largest market, Alberta. Ontario's cannabis regulator has promised to increase the pace of store openings starting this fall.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS