A password will be e-mailed to you.

The model of state-run alcohol sales gives us an important clue as to why high-flying marijuana producers face tough times ahead Marijuana plants grow in a climate controlled growing room at Tweed Inc., now Canopy Growth, in Smith Falls, Ontario in 2015. (James MacDonald/Bloomberg/Getty Images) Allan Gregory is a professor of economics at Queen’s University. As the July deadline for the provinces to legalize marijuana approaches, the stock prices of Canadian publicly-traded weed producers have been on a tear. On Monday alone shares in Canopy Growth Corp., soared nearly 20 per cent. The surge in market value comes as firms try to position themselves with sufficient product to meet anticipated demand. But as these companies, some valued in the billions of dollars despite generating no profits, continue to attract starry-eyed investors, it’s worth examining what kind of opportunities will exist for these firms when provinces regulate retail pot sales. Investors are delusional when it comes to Canadian marijuana companies

thumbnail courtesy of www.macleans.ca