Adrian Ghobrial – CTV – Nov. 17, 2022
Canadians who invested in cannabis companies have lost more than $131 billion, according to data collected by law firm Miller Thomson, which calculated the total losses of 183 publicly traded and licenced cannabis producers.
It’s a staggering number that if divided equally between an estimated three million active investors would equate to each losing about $43,000.
Larry Ellis, a lawyer with the firm, points out to CTV National News that he “doesn’t know of many Canadian investors who can afford to lose $40,000 individually.”
From high times to large swaths of an industry now going up in smoke, the money lost is just one example of the current state of the Canadian cannabis industry. Many are now pointing the finger at the federal government’s rollout of legalization, while noting that the black market is thriving.
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