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Canaccord Genuity Group Inc (TSE:CF) Analyst Matt Bottomley on Justifying Cannabis Valuations in 2019
Canaccord Genuity Group Inc (TSE:CF) (OTCMKTS:CLORF) Analyst Matt Bottomley warns that this year cannabis companies are going to have to justify increasingly lofty valuations. While Bottomley believes that all cannabis companies need to back fill to match valuations, he indicates that the domestic space is much more appealing in the US than in Canada. He suggests that US MSOs are going to show positive EBITDA before Canadian LPs. On the other hand, Canadian LPs have international opportunities that their American counterparts cannot currently match. Bottomley indicates that Canadian LPs will need to see meaningful revenue from international markets to justify valuations. However, Bottomley cautions that the global cannabis rollout is still in its infancy and estimates that it will take a decade for the international market to mature.