Cannabis crash

If you’re a cannabis investor, you’re likely saying ouch these days when you open your trading app.

National news media are calling it a ‘slump.’ As weed stocks continue to drop (where, oh where, will the basement be?), some cannabis companies are cutting jobs and stopping construction on projects.

Long-term investors are still looking for the deals, with many eyes on cannabis producer Aphria.

Articles on Nasdaq.com had competing views — one warning don’t buy the hype, and the other: two reasons Aphria’s a good bet.

Overall, stocks are down in many cases around 40%.

Do you have weed stocks? What are your thoughts on the cannabis crash?

Email hello@okanaganz.com.

Unsolicited retail advice

Retailers are struggling first to open, then to profit.

Self-proclaimed cannabis nerd and director of Lake City Cannabis in Calgary, Alta., was giving away his strategies on Twitter.

“I'll tell you a secret...,” he says.

“People are still buying cannabis. They're just not buying bad product."

“The truth of the market is retail is your flood gate. 70-80% of the time we will be consulted if we like a product. It's not good business to recommend something we know the customer won't like.”

“We employed a strategy we felt would protect us in the early days. We didn't order mass crates of anything so we were not holding bad stock or stock with adjusted prices. If you're a retailer you NEED to have a streamlined inventory.”

NATIONS co-founder to speak

The National Cannabis & Hemp Conference happens Nov. 26-28, at the Delta Grand Hotel in Kelowna.

One of the featured speakers the co-founder of what’s expected to be BC’s first Indigenous-controlled cannabis production company.

Wesley Sam, former Chief of the Burns Lake First Nation, is co-founder of NATIONS, a late-stage applicant in the federal licensing process.

Recently, Indigenous Bloom stores in Chilliwack have changed to NATIONS branding.

In his welcoming letter, Westbank First Nation Chief Chris Derickson, says conference-goers will hear from leading Indigenous experts in medical, legal, and business.

“Cannabis and Hemp afford significant opportunities for Indigenous communities in the areas of health care, harm reduction, jobs, and economic growth. Social issues arising must be concurrently addressed and managed responsibly,” he says.

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Shuswap store opens

Meanwhile in the Shuswap, idyllic Sicamous gets its second cannabis store.

Sicamous Trading Company opened with a soft launch Nov. 21 and a grand opening for customers and media at high noon on November 22.

The community's first cannabis store, High Mountain Cannabis, opened in June.

Sicamous is smack dab between Calgary and Vancouver.

The new cannabis retail store is said to mirror the upscale “Apple Store-style of interior design and service.”

“The store design and brand are inspired by the beauty of Sicamous and a love for nature and adventure,” says the company.

“Beyond providing a legal and safe shopping experience, the highly trained staff of Cannabis Advisors are dedicated to providing the community a welcoming retail experience focused on quality, a wide range of products and pricing, and expert guidance.”

The store is located at 302B Main St.

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Quick Hits

A gateway drug…?
US democratic leadership hopeful Joe Biden says he’s not sure if marijuana is a gateway drug that leads to the use of other, more dangerous substances.

THC Warning™
Rapper Drake is trying to trademark Canada’s pot warning label, and may be in for a fight.

Instattention
Caitlin Fladager, who has 289,000 followers on Instagram, posted an image of herself smoking a joint next to a sign that reads, "Mom truth: Weed should be just as acceptable as a glass of wine."

Frustrating ad regulations
“Being unable to advertise or even promote our business is really hindering everything,” says a Salmon Arm cannabis retailer.

Dad jokes

What did the left eye say to the right eye?
Between you and me, something smells.

Cop: I’m arresting you for illegally downloading the entire Wikipedia.
Man: Wait. I can explain everything!

I dig, you dig, we dig, they dig, he digs, she digs,
It’s not a beautiful poem but it is deep

– r/dadjokes

Earphones extras

Listen to the oz.'s David Wylie and radio host Dean Millard chat about these stories and more on The Cannabis 101 Podcast.

hello@okanaganz.com

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PO Box 41080 Winfield South | Lake Country BC | V4V 2L9
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Okanagan Z · PO Box 41080 Winfield South PO · Lake Country, BC V4V 1Z7 · Canada