Celebration over the legalization of cannabis in five more U.S. states was hardly over when attention turned to what this all means for industry heavyweights north of the border.
Several of the largest Canadian companies reported quarterly results last week, putting them under the microscope as Wall Street tries to figure out how they’ll grow while largely shut out of the rapidly expanding U.S. market. Some are finding ways in, while others are searching beyond.
Here’s a look at the strategy pivots laid out by a few prominent Canadian cannabis producers:
Canopy Growth Corp. Chief Executive Officer David Klein is focused on building a brand so strong and distinctive that consumers demand retailers carry it. The company already has a deal with Acreage Holdings Inc. to move into the U.S. within 60 days of federal legalization — but with the prospects of Republican control of the U.S. Senate, the company probably can’t count on legalization…