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As reported in the New York Times this weekend, the big Canadian producers like Aurora Cannabis Inc (NYSE:ACB), Canopy Growth Corp (NASDAQ:CGC), and OrganiGram Holdings Inc (NASDAQ:OGI) are suffering longer than expected in terms of profitability following the country’s nationwide legalization move for recreational use several years ago.
Canopy Growth, for example, the Canada’s largest producer, lost 1.2 billion Canadian dollars, or about $950 million, in the first nine months of its current operating year.
That said, long-term analysis shows a remarkably constructive path forward for the industry as a whole, particularly in the US market, where demand will far outstretch that found in Canada over the long haul.