A lot has happened since 2018, but if you think back to that time, you might remember that Canada’s cannabis industry was booming.
There were multiple Canadian cannabis businesses that were valued at multiple billions of dollars. People were getting rich trading weed stocks and starting weed companies.
And this wasn’t just money moving around, like with meme stocks during the pandemic. The largest companies, like Canopy, Aurora, and Aphria, were spending money to build massive facilities across Canada and hiring thousands of people.
Then it all came crashing down.
Last week, the Nasdaq stock exchange said it would delist Canopy Growth Corp because its stock, which once traded for around $60, has been below the Nasdaq’s $1 threshold for too long.
So what happened?
On today’s episode, Jay Rosenthal joins me to explain what went wrong in the cannabis industry and talk about what’s next for the sector both in Canada and the US.
Jay is the Director of Content at Dutchie, a leading tech partner for cannabis retailers around the world, and the co-founder of the Business of Cannabis.
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