Mistakes the Canadian government made during year one of legalization
Cannabis came into view as a growth driver by contributing 8.6 billion to Canada's economy. In July, 9,200 people were working in the marijuana sector. Federal legalization has opened doors for funded research to get a better grasp on how marijuana works for specific ailments such as:
From a public point of view, the legalization of Cannabis allowed the government to keep the drug away from youth. While taxing cannabis and stealing it away from the black market, they were able to put regulations on marijuana and allowed Health Canada to control the additives to things like baked goods. Making it a bit safer for those that are consuming /smoking the drug.
They are giving more drive for the US to approve the federal legalization of marijuana. Federally legalized marijuana is a considerable market. Several states have made a move into either legalizing cannabis or at least decriminalizing cannabis. We are just waiting to see the rest of the states follow suit.
Some of the mistakes
Over the course of the year, many supply issues have been needing some attention from the Canadian government. With having a lottery, it made things challenging for those that want a part in the marijuana industry. Thus leaving the handful of dispensaries to handle the high volume of customers with a tremendous demand seems unfair.
The question is if there is enough marijuana in the market to keep up with the demand. Based on mostly hearsay, canadiens prefer dried cannabis so far with high amounts of THC. The issue that has arisen from those whispers is that the market seems to have marijuana with lower amounts of THC.
Stocks & investing
In the fall of 2018, cannabis was made legal in Canada. Which prompted investors to jump in and try their luck. For the very first time, North America had created a legalized and significant opportunity for investors to invest in cannabis. Igniting investors to look at cannabis as a profitable stock option. With more US states allowing medicinal cannabis or recreational cannabis, it made the stocks look even more appealing.
There is so much excitement that is surrounding cannabis stocks. One would expect it would be a fast and easy way to make some cash. You must do your research when investing in any company and make well thought out investments . Always look at the company’s leadership and plans for growth and track record; this will help you to pick a company that will be a worthy investment and not just looking to make a quick dollar. So, think all investments through very thoroughly. Pay attention to the long term and not the short time. This will make a big difference in the outcome of your choices.
Seeds & marijuana plants
In the beginning, marijuana seeds were not so easy to get our hands on as we needed to wait for the more substantial producers to make these available . That would take some time. The same goes for marijuana plants and or cuttings. Most provinces have planned to sell seeds through online government stores.
The lottery was also a lack of proper planning as the cost was too high for the average person to try and get in on the action. That left many feeling frustrated and disappointed in the federal legal system that was starting up. This has taken a turn as they will now be allowing and making it easier for the new business to open in the cannabis industry.
When anything is in the infant stages, it always proves to be a time of trial and error, and There is still something that will need a little ironing out. The great thing is that we see the changes to improve this new system. We are ever so excited to see all the new things that have been happening in the marijuana sector. The cannabis industry is growing and also improving every day.