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 …