Amid layoffs appearing as a constant, The Supreme Cannabis Company is the latest in the industry to let a percentage of its staff go.

Cannabis NB is looking more attractive by the day.

As New Brunswick mulls eight separate private-sector applications to purchase the province’s marijuana sales and distribution business, an increase in sales by the agency might have the government reconsidering the transaction altogether.

The cannabis retailer recorded sales of $3.47 million in November, according to Statistics Canada, a 4.8 per cent increase from the previous month and 14.6 per cent better than the same month fared in 2018.

It was the only Atlantic province that experienced a month-over-month increase, with Nova Scotia and Newfoundland and Labrador experiencing a drop off, and sales remaining flat in P.E.I.

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2020 has proven to be a challenging period for the cannabis industry so far and we will continue to  keep an eye on how the sector is able to perform from here. Although the recent trend has been to the downside, we have been able to identify a few bright spots in the industry and believe that selectivity will be more important than ever going forward.

When we are analyzing a cannabis company, there are a number of metrics that we take an in-depth look at and want to highlight some of the most important metrics:

The Supreme Cannabis Co. is the latest cannabis company to announce a series of layoffs, after the pot producer said it would shed 15 per cent of its staff to focus on “near-term revenue growth” late Tuesday.

The company said one-third of its corporate-designated jobs would be cut, while about 13 per cent of its production staff would also be reduced. Supreme Cannabis has about 700 staff, according to the company. It will also stop its plans to invest in the UK and European cannabis industries, while maintaining its existing investments in Lesotho and its Truverra CBD business.

Last year was a wake-up call for marijuana stock investors. For years, pot stocks had ascended to the heavens on promises of strong demand, rapid growth, and an expected quick push into the profit column. This vision looked especially feasible given Canada's legalization of recreational weed, support for legalization among the public throughout the United States, and the tens of billions of dollars in sales conducted annually on the black market.

The first companies developing medical treatments from psychedelic drugs like LSD, ketamine and the active ingredient in magic mushrooms are gearing up to list on Canadian stock exchanges.

Mind Medicine Inc., which is undertaking clinical trials of psychedelic-based drugs, intends to list on Toronto’s NEO Exchange by the first week of March, said JR Rahn, the company’s co-founder and director. A NEO spokesman confirmed the listing, which is pending final approvals.

Humans have been cultivating the numerous varieties of Cannabis plant for thousands of years – and the plant is thought to have grown naturally in the wild for much longer before that. From sativa to indica, the plant has been used for everything from paper and clothing to nutrition and medicine, and everything in between. Cannabis has also been credited with having various properties and uses that can have positive environmental impacts. 

Only the craftiest producers will survive Canada’s sluggish market for recreational cannabis.

Licensed producer Tilray, with a production facility in Nanaimo, has confirmed it is cutting staff by 10 per cent, about 140 positions. Aurora Cannabis, with operations in Pemberton and Whistler, ousted its CEO along with 500 staff last week.

More pain is likely as recreational cannabis sales in the first year-plus since legalization are half to one-quarter of pre-legalization estimates.

Unsold inventory of packaged dried cannabis held by cultivators, distributors and retailers is more than four times total sales, according to Statistics Canada. Unpackaged inventory left with growers is more than twice that, about 390,000 kilograms.

The turbulent market in 2019 has been a wake up for public cannabis companies.