Canadian Cannabis Stocks Are Becoming Less Desirable Investments, Data Suggests

Cannabis stocks have taken a hit since Election Day, Nov. 3.

The latest Hifyre cannabis sales data out of Canada suggests some concerning trends in the market.

The Numbers: Month-over-month, Canadian retail cannabis sales were up just 4% in October and down 3% in November, Hifyre estimates.

Cantor Fitzgerald analyst Pablo Zuanic said top Canadian cannabis companies appear to be losing market share as competition rises. In December 2019, Aurora Cannabis Inc. (NYSE: ACB), Aphria Inc. (NASDAQ: APHA), OrganiGram Holdings Inc. (NASDAQ: OGI), Tilray Inc. (NASDAQ: TLRY) and Canopy Growth Corp. (NASDAQ: CGC) accounted for a combined 59% of total Canadian market sales. In November, that combined market share had dropped to just 38%.

Related Link: 3 Reasons Marijuana Stocks Are Soaring

Aphria is having the best fourth …

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