The Battle Of The Pre Rolls: Which Cannabis Company Is Canada's Number One?
Portfolio Pulse from Nicolás Jose Rodriguez
Decibel Cannabis Co Inc. (OTCQB:DBCCF) and Tilray (NASDAQ:TLRY) are leading the pre-roll cannabis market in Canada, according to data from Hifyre. Decibel commands a 16% segment share, with pre-rolls driving 65% of its total sales in 2Q23. Tilray holds a 13.8% share, bolstered by its acquisition of HEXO. Decibel's infused pre-rolls have tripled its sales year-on-year for 2Q23, while Tilray's brands have experienced modest share erosion.
August 15, 2023 | 7:13 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Decibel Cannabis Co Inc. leads the pre-roll cannabis market in Canada with a 16% segment share. Its infused pre-rolls have tripled its sales year-on-year for 2Q23.
Decibel's strong performance in the pre-roll cannabis market, particularly its success with infused pre-rolls, suggests a positive short-term impact on its stock. The company's innovative offerings seem to be well-received by the market.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Tilray holds a 13.8% share in the pre-roll cannabis market in Canada, bolstered by its acquisition of HEXO. However, its flagship brands have experienced modest share erosion.
While Tilray's acquisition of HEXO has helped it maintain a strong position in the pre-roll cannabis market, the modest share erosion of its flagship brands could potentially impact its stock in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100