Canadians lose money investing in Cannabis

[Hamloc]

Article in the National Post:”Canadians have lost $131 billion investing in cannabis.”

Just another example of Justin Trudeau’s great vision and leadership! Lol.

[Taiga]

Insolvency Insider website
The number of bankrupt cannabis companies is staggering over last 2 years.
This is another investment adviser failure, almost all were pumping up cannabis investment.

[AlbertaFarmer5]

Insolvency Insider website
The number of bankrupt cannabis companies is staggering over last 2 years.
This is another investment adviser failure, almost all were pumping up cannabis investment.

Just imagine what the CO2 footprint of building all of these facilities must be.

If we really actually cared about CO2 emissions, we should have left the marijuana industry to the backyard grow ps. Would have been much more environmentally friendly not to mention cost effective.

I drive by the element facility out by sundry quite regularly. Built in the middle of a muskeg, spent a large Fortune just building a base, let alone the rest of the facility. I'm not sure if they ever started operations. The snow isn't even plowed last time I went by. No website that I can find anymore.
I go by sundial in olds occasionally, still operational, but their financials are deplorable.

What will all of these sites be good for in the future? What other profitable industry would need such specialized equipment and buildings?
Perhaps the seed industry could use them for seed increase in the off season?

[chuckChuck]

The losses only surpassed by Crypto's Polly's endorsement and investments in crypto currency as a good hedge against inflation.

Funny enough Polly is not talking about crypto any more nor taking questions on any of his other bonehead ideas. LOL

[cropgrower]

cancel disney will fix all the problems !

[WiltonRanch]

The losses only surpassed by Crypto's Polly's endorsement and investments in crypto currency as a good hedge against inflation.

Funny enough Polly is not talking about crypto any more nor taking questions on any of his other bonehead ideas. LOL

Yeah it’s dumb like Trudeau giving WE the money and contract to administer the student employment program without going through federal procurement or the Sask government of the day getting into the potato business.

[AlbertaFarmer5]

The losses only surpassed by Crypto's Polly's endorsement and investments in crypto currency as a good hedge against inflation.

Funny enough Polly is not talking about crypto any more nor taking questions on any of his other bonehead ideas. LOL

Chuck, you are deflecting again. There is another thread about Crypto.

What is your view on the wasted resources that have gone into the pot industry? Or on the wasted lives of the customers?

[chuckChuck]

So who was forcing investors to invest in Cannabis?

And who's fault is it when the value of many investments of all types have fallen?

And who is paying for all the health and addiction issues from tobacco, alcohol and gambling happily taxed by provincial governments? Is cannabis any worse? In fact it is probably less addictive and destructive than all three of the above.

Seems like a lot of provincial premiers deserve some of the blame.

[shtferbrains]

The legal weed production was much like solar or wind facilities. Lots of novice and institutional investor's see it as a can't miss.
How could you loose money selling weed out of a massive facilities for 4x the price of the local street?
And the government puts in all kinds of barriers to restrict competition.
Like green energy or EV's the money is in peddling shares.
The spin is overwhelming.

[jazz]

Well we know who smoked all the dope the govt couldnt sell. Clueless climate cult types.

Brother in law tried to get a facility up and running. Spent more than 3 yrs trying to get permitted, finally ran out of money.

I offered him some sage advice, never get into a business with the govt.

[WiltonRanch]

My local city of 30000 has the highest per capita liquor stores and was upwards of 9+ pot shops. Haven’t done a substantial count but roughly guess 40% out of business now and others changed names. Overbuilt for the demand. Could see it coming. Funniest thing is the medichair has a pot shop beside it. Half baked seniors.

[AlbertaFarmer5]

So who was forcing investors to invest in Cannabis?

And who's fault is it when the value of many investments of all types have fallen?

And who is paying for all the health and addiction issues from tobacco, alcohol and gambling happily taxed by provincial governments? Is cannabis any worse? In fact it is probably less addictive and destructive than all three of the above.

Seems like a lot of provincial premiers deserve some of the blame.

I think we can both agree, that this is a case of a fool and his money are soon parted. No different than the green energy scams, electric cars, crypto, and NFT's etc.

Who would have ever guessed that a highly government regulated industry would produce an inferior product at a superior cost, and would grossly miscalculate supply and demand. Almost reminds me of another government mandated monopoly that used to sell wheat.

I feel no sympathy for investors who got sucked into these obvious scams. They will all fail, just as spectacularly as FTX just did. Meanwhile, actual productive industries, and actual energy producers are starved of capital(as governments and institutions cried about divest, while throwing good money after bad at worthless adventures such as this), regulated out of existence(why was it OK for Element to build their pot facility in the middle of a bonafide muskeg, while a farmer who produced food is regulated from ever farming something that had water on it once), starved for labour(Why would you want to freeze on a drilling rig in the middle of nowhere if you can just open a store and sell pot in your hometown), and a good portion of the labour they do get is most likely useless thanks to legalized pot.

And I am with you on your next point. I disagree with keeping damaging products/practices legal, just because governments can collect a sin tax from them. How do you propose to solve this age old problem? I doubt any party would get elected in the 2020's based on a platform of making pot, alcohol, tobacco and gambling illegal. Past attempts at prohibition weren't very successful.

[Partners]

The trurd thought there was alot of Pot smokers like him..
Guess not.
Chuck and Aggie better pick up the pace..

[Guest]

Article in the National Post:”Canadians have lost $131 billion investing in cannabis.”

Just another example of Justin Trudeau’s great vision and leadership! Lol.

just to put it in perspective
thats $43k for EVERY person in canada

[AlbertaFarmer5]

just to put it in perspective
thats $43k for EVERY person in canada

Which should make anyone suspicious that this statistic is probably not accurate.

Even if it's only $43 per citizen, imagine what we could have accomplished if we had invested that in something productive, such as pipelines and LNG terminals. Or twinning the railroads. Or invest in the healthcare industry instead of the health wrecking industry.