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PI Financial Corp Analyst on Canada’s Disappointing Recreational Cannabis Sales
PI Financial Corp Cannabis/Special Situations Analyst Jason Zandberg discusses why he’s bullish on the US cannabis market. Zandberg notes that while Canadian recreational cannabis sales are falling behind original estimates, US numbers continue to exceed expectations. He’s excited about the potential of the Florida market and believes the introduction of smokable products, edibles, and rapid patient growth should accelerate sales numbers in that state. Zandberg notes that cannabis laws are increasingly passed through legislation on a state level and means consumers and investors do not have to wait for election periods for legalization to advance. Zandberg indicates that the international market for cannabis is significant but worries current exports are not enough to satiate global markets. Zandberg suggests the Canadian market is experiencing growing pains but the legalization of edibles should help with disappointing recreational sales numbers. Zandberg notes that if Aurora Cannabis Inc (TSE:ACB) (NYSE:ACB) (FRA:21P) finds are major partner, it will act as a sector catalyst.