US, Canadian pot firms eye Germany for growth as market stagnates at home

📆 7/23/2024 10:28 AM
📰 YahooFinanceCA

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Germany News

Illicit Market,Global Market,Medical Cannabis

North American cannabis firms, facing prohibitive laws, an overcrowded market and a deeply entrenched illicit sector at home are ramping up investments in Germany after the country partly legalized marijuana use.

Industry insiders said this is mostly driven by problems at home, with Canada plagued by an illicit market and oversupply. In the U.S., allure has dimmed amid regulatory hurdles, including a lack of timeline for federal legalization. "We see a big movement in the global market. Everybody needs to be in Germany and wants to be in Germany now," said Bloomwell CEO Niklas Kouparanis.

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US, Canadian pot firms eye Germany for growth as market stagnates at homeNorth American cannabis firms, facing prohibitive laws, an overcrowded market and a deeply entrenched illicit sector at home are ramping up investments in...
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