Why Legal Pot Was Taking a Hit in Canada, Weeks Before COVID-19 Sent Markets Plunging


The gains cannabis companies were banking on in the lead-up to legalization of recreational sales in October 2018 have not materialized. So, what went sideways? In February, weeks before COVID-19 was declared a pandemic and the stock market was sent into a tailspin, a handful of Canada’s largest cannabis companies were already in layoff mode. In B.C., Canopy Growth was preparing to shutter what was once the world’s largest licensed indoor growing operation, a sprawling…


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