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Cannabis' 2030 Outlook Includes Bankruptcies

The likelihood for several new cannabis markets to legalize by 2030 will drive combined U.S. legal sales past $72 billion in that year, according to New Frontier Data’s latest analysis of state legalization efforts.

Last year, the U.S. legal cannabis market was worth an estimated $26.5 billion, and this year it is expected to top annual sales of $32 billion.

And yet, Canadian cannabis producer Eve & Co receives creditor protection, while Cannabis producer CannTrust just emerged from creditor protection.

The bankruptcy protection was a result of continuing liquidity challenges, insolvency and the inability to meet liabilities.

Before it ran into regulatory issues, CannTrust was one of the biggest cannabis companies in Canada with an active medical clientele of 67,000 customers and exports to countries such as Australia and Denmark.

CannTrust cited a range of issues, including breached sales agreements that resulted in losses of millions of dollars in expected revenue resulting in the spoilage of unsold inventory.

Other excuses included investments in partnerships that did not come to fruition, a failed equity investment transaction, and the COVID-19 pandemic.

Not surprisingly, they left out poor management decisions resulting in malinvestment and a loss of trust, which is probably why they’re in the process of chaining their name.

Show Notes:
New State Markets Could Boost U.S. Legal Cannabis Sales to $72B by 2030
Canadian cannabis producer Eve & Co receives creditor protection
Cannabis producer CannTrust emerges from creditor protection

Josh Kincaid, Capital Markets Analyst & host of your cannabis business podcast.

Episode 935 The #TalkingHedge…
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Music Info:
Song: Beat | Keep On | 2020
Artist: Milochromatic Beats
Song: Dark Trap Beats Hard Rap Instrumental | Gang | 2018
Artist: LuxrayBeats

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