For big marijuana, Grit win means money in the bank
Those with a stake in cannabis-related companies weren’t just hoping the Liberals would win the federal election, they were banking on it.
Legalized marijuana could be a budding into big business in Canada if the party follows through on its much-publicized campaign pledge, with one analysis projecting a $5 billion market for recreational weed.
The same analysis paints a picture of the path legalization will take, at first mimicking alcohol sales, then becoming subject to potential takeovers by Big Tobacco — a scenario that has long worried critics of Justin Trudeau’s legalization plan.
In a report published the morning after the Liberals cruised to a majority win at the polls, Bay St. investment dealer Dundee Capital Markets valued the current medicinal marijuana market at $80 million, projecting that number to balloon to $1.2 billion by 2024, with the number of licensed patients expected to increase tenfold.