Canadian Cannabis Demand Surges 40%

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New estimates suggest that Canada could require 900,000 kilograms of cannabis to supply recreational users in 2018.
The Marijuana Policy Group has released a new report that estimates higher-than-expected cannabis demand.
The firm provided its research to Health Canada, ahead of 100% legalization on Jan. 1.
The new estimate for 900,000 kilograms of annual demand is 40% higher than two frequently referenced studies.
Accounting firm Deloitte estimates 600,000 kilograms of annual cannabis demand. And the Parliamentary Budget Office estimates 650,000 kilograms.
Michael Light – a partner at the Marijuana Policy Group – told the Marijuana Business Daily, “In our view, demand has been underestimated because the number of heavy users in Canada had been underestimated.”
Based upon the estimates, the legal cannabis market could generate annual sales of C$4.8 – C$7.2 billion in 2019 (based upon an average price of C$8.00 / kilogram of dried cannabis).
That compares with estimates from Capitalist Economics, which last month estimated that Canadian’s spend C$6.5 billion on black market cannabis.
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California Issues Recreational Licenses

The State of California just issued the first 20 licenses, allowing a select group of companies to distribute cannabis for recreational use.
The licenses go into effect on Jan. 1, 2018.
A total of nine companies received licenses. Many firms had applied for more than one license, since a single license covers only one business location.
Over 200 companies have applied for temporary licenses. Meanwhile, over 1,900 are registered with California’s online licensing system.

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Market Snapshot

Weekly Performance (Monday – Friday):
North American Index: +8%
Horizon Medical Marijuana ETF: +2.8%
When it comes to “pot stocks,” you definitely do NOT want to own an index.
It’s all about picking the RIGHT STOCKS.
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Good Investing,
Ian Wyatt

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