Cannabis companies facing 'crossroads' selling off stores, farms and warehouses
A customer walks into a Cannabis dispensary on Queen St. in Toronto, Monday, Jan. 6, 2020. THE CANADIAN PRESS/Cole Burston
Cannabis companies are selling off growing facilities, stores and warehouses as they try to better align their offerings with demand.
Industry observers say demand for cannabis is high, but there are so many assets available for sale right now because companies have misjudged what consumers want.
They say companies are looking to off-load properties as they cut products and pivot toward items more likely to fly off the shelves.
David Hyde, chief executive and co-founder of Hyde Advisory and Investments Inc., says the sell-off is happening because companies are at a "crossroads" as they come to terms with the profitability, viability and challenges of the industry.
He says many have realized their business plans are not sound and that demand for particular products is well below their expectations, leaving them with a glut of pot to sell.
Others are struggling to stand out as the number of pot products for sale in the country swells, craft cannabis' share of the market grows and illicit sales remain strong.
YOUR FINANCES
Almost half of Canadians are doing worse financially than the previous year: survey
As inflation rates soar to the highest they've been in Canada in nearly forty years, nearly half of Canadians say that right now, they're doing worse financially than they were at this time last year.
Here's how to save on your next grocery order, according to Canadian couponers
As Canada’s inflation soars, two ‘extreme couponers’ offer their advice on how to save at the grocery store.
4 things Canadians can do to save money on their groceries during inflation
With Statistics Canada reporting a 9.7 per cent increase in food costs over the last year, Canadians are being pushed to find ways to pinch pennies at the grocery stores. Here are some ways to save.
Is it time for a 'gas tax holiday' in Canada?
As fuel prices reach record highs and drive inflation, there have been growing calls for governments to temporarily suspend or reduce gas taxes. CTVNews.ca spoke with experts on whether a gas tax holiday makes sense in Canada.
Canada's inflation nears 40-year high as gas prices soar
Soaring gas prices helped the annual inflation rate in May soar to its highest level in nearly 40 years, as the rising cost of living for Canadians squeezed household budgets and bolstered expectations the Bank of Canada will opt for a supersized interest rate hike next month.
'Retirement crisis' is in the works amid inflation: survey
More Canadians are facing challenges to save for retirement security as inflation continues to soar and markets decline, a new survey has found.
Ontario student warns about losing debit card after $14,000 lands on RBC account
An Ontario student is warning people of the risk that comes with failing to report a lost debit card after $14,000 in fraudulent deposits landed in her RBC account.
OPINION | How much money do you need to live as a digital nomad?
With the world opening up, there’s been a renewed interest in travelling and working in different countries as a digital nomad. So how much money do you need to make it work abroad? Contributor Christopher Liew breaks it down in an exclusive column for CTVNews.ca.