Since October 17, cannabis edibles, including baked goods and beverages, have been legal in Canada.
But 10 days before Christmas, it’s still not possible to order them through the B.C. Cannabis Stores website.
‘Adult consumers can expect a limited selection of the new products to appear gradually in legal stores starting in late-December 2019,’ the B.C. government states on its ‘Get Cannabis Clarity’ page.
Today is the first day that the federal government is permitting authorized distributors and sellers to make cannabis edibles, concentrates, and topicals available.
It means that licensed producers can ship these products to government-owned wholesalers, including B.C.’s Liquor Distribution Branch.
Meanwhile, CBC News reported this morning that Ontario, Quebec, and Alberta will not have edibles, topicals, or extracts available until mid to late January.
This so-called Cannabis 2.0 wave can’t come quick enough for Canadian weed investors, who’ve endured a brutal year on the markets.
Major declines occurred after it was revealed last summer that CannTrust Holdings had grown thousands of kilograms of weed in unlicensed rooms. Its share price is $1.11, down from a 52-week high of $13.48. CannTrust’s market capitalization has shrivelled to $157.04 million.
Prior to the opening of North American stock markets today, industry giant Canopy Growth Corporation was trading at $27.28. That’s down from a 52-week high of $70.98. Its market capitalization is $9.51 billion.
Shares in another large licenced producer, Aurora Cannabis, are $3.47, down from a 52-week high of $13.67. Its market capitalization is $3.65 billion.
Cronos Group is trading at $9.61, down from a 52-week high of $32.95. Its market capitalization is $3.3 billion.
Tilray Inc.’s share price is US$18.60, down from a 52-week high of US$106. Its market capitalization is US$1.87 billion.
Shares in yet another Canadian licensed producer, Aphria Inc., are $7.26, down from a 52-week high of $14.37. Its market capitalization is $1.83 billion.
