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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 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.

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.

Access and cost are two familiar pain points for medical cannabis clients. Even with a doctor’s authorization to use it, medical cannabis isn’t covered by many provincial drug benefit plans, disability benefits or private insurance, which can cost up to thousands of dollars per year. But come tax filing season, the Canada Revenue Agency (CRA) offers some reprieve: If you’re registered to buy medical cannabis from a licensed producer, you can claim the cost of your dried flower, oil, seeds or other products as a “medical expenses” credit on your annual income tax return.

Soon after cannabis products started flying off shelves following legalization, Canopy Growth Corp. had an $26.9 million problem.

The Smiths Falls, Ont.-based company told investors and analysts during a November conference call to discuss its financial results that it was grappling with $20.5 million worth of product being returned from provincial retailers and bracing itself for another $6.4 million worth that was on the way.

In the previous quarter it had taken an $8-million writedown for unsold oil and gel caps.

Canopy Growth Corp.’s cannabis-infused products may have been delayed in Canada, but they keep popping up south of the border.

The foray into U.S. markets, which began late last year with the roll out of First & Free, a hemp-derived CBD product line, now appears to include items under the BioSteel Sports Nutrition label, a brand that Canopy purchased a 72 per cent stake in last October.

To say that there have been big changes in the Canadian cannabis landscape in recent months would be a major understatement. Although Canada was expected to be a global marijuana pioneer given that it was the first industrialized country in the modern era to green-light recreational pot, a number of regulatory issues have stymied growth. As a result, most Canadian pot stocks continue to lose money, and many have needed to adjust their game plans, accordingly.

A rash of cannabis company layoffs and executive departures in recent weeks is likely to continue as the industry faces a rocky year, according to observers.

They are anticipating the coming months will bring more dramatic staffing cuts and changes to leadership at small and large cannabis companies alike as they grapple with the recent roll out of edibles, a history of overspending and a lack of profitability.

It sounds like the Canadian dream.

Cannabis and maple syrup: Two Canadian institutions, come together as one, delicious breakfast condiment.

But while it may seem like the most Canadian product imaginable, this tasty THC-infused delicacy from pot shop Cultivate and Pure BS Maple Shack is farmed and concocted in Auburn, Mass. and only available to residents of (and visitors to) the state for now. That means Canucks will have to take a road trip to sample the syrup.