With legal cannabis now cheaper in many Canadian localities than black market production, MMJ expects continued high rates of conversion out of the black market.
’s () shares outshined the benchmark Alternative Harvest ETF in the month of September by rising 1% from 9.3 cents to 9.4 cents.
The Alternative Harvest ETF declined about 18% during the same period from US$12.52 to US$10.39.
MMJ shares also did better than the broader market represented by the ASX 200 which declined about 4% from 6060.50 to 5815.90 during the month.
The shares are continuing to rise with a 17% gain in October from 9.4 cents to 11 cents currently.
Growth in Canadian legal cannabis market
While the broader cannabis sector declined significantly in the month of September, MMJ is seeing some uplift in the early weeks of October.
The market in October seems to be weighing excellent growth of the consumer market for Cannabis against the already well-known issue of oversupply.
In Canada as an example,…