At this time final year, cannabis stocks have been a single of the hottest investments on Wall Street. That is for the reason that Canada, just a month earlier in Oct. 2018, had come to be the 1st industrialized nation in the contemporary era to legalize recreational marijuana. Our northern neighbor also looked to be on track to give the OK to derivative pot goods by no later than October of the following year (2019).
We have been also witnessing a quantity of new states in the U.S. give the green light to marijuana, paving the way for what looked to be the speedy ascent of North American cannabis sales. And then these expectations got violently shoved out the window.
The cannabis bubble has burst
Considering that legal weed sales commenced in Canada, persistent provide difficulties have kept item from reaching dispensary retailer shelves. Aspect of this blame falls on Overall health Canada, the regulatory agency accountable for overseeing the license application course of action for the pot market. Overall health Canada has been so overwhelmed with applications that it is taking numerous months — if not longer than a year in some situations — for growers to commence planting, processing, or promoting their cannabis. [Read more at Nasdaq]