LBLCF - Canadian Cannabis Sales Data In Newfoundland Shows The Market's Huge Potential
Summary
Newfoundland released results from its first six weeks of legalized recreational cannabis. Those results are great - they would extrapolate to a ~45% market share for legal, recreational cannabis and would result in 421,000 kilograms/year of sales worth $3.7 billion retail.
That said, extrapolating Newfoundland's results nationally would be a mistake. Newfoundland has had a great roll-out of cannabis. Newfoundland has ~500,000 residents, but has more retail stores than Ontario, Quebec, and British Columbia, combined. Those three provinces are home to ~27.4 million Canadians but were only home to