Investors, however, thought otherwise, and in the time leading up to legalization, a “green rush” swept the Toronto Stock Exchange. Like plastics in the film “The Graduate,” marijuana seemed destined to become Canada’s next big thing. The investment craze produced a strong echo of the dot-com stock boom of the late 1990s. Two and a half years after legalization, most marijuana producers in Canada are still reporting staggering losses. And a major new competitor is looming: Mexico’s lawmakers legalized recreational pot use last month.

Source: New York Times April 18, 2021 09:00 UTC