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
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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
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