CIBC compares cannabis to gold rush, predicts ‘beginning of global seismic shift’

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The birth of the legal cannabis industry in Canada is akin to the gold rush, but very few cannabis companies will live up to their lofty expectations, according to a new report from one of the country’s largest banks.

CIBC World Markets, a subsidiary of the Canadian Imperial Bank of Commerce, made the sobering assessment Friday in a report in which it also initiated coverage of Canopy Growth, Cronos Group and Aphria.

CIBC expects only a handful of cannabis companies

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