Rebound time, page-536

I've posted this at MMJ, but it applies equally here.

My take on the cannabis sector in Australia is that any Aussie company looking to grow cannabis either for the local market of for export is wasting its time and its shareholders' funds. The market for medical cannabis in Australia is tiny and global players operating at scale are already importing product to our shores. Other than having "Australian Made" on the packaging, there is zero competitive advantage for such local players. Aussie companies with overseas operations are competing with the global players who operate at scale and have deeper pockets; we really need to look under the bonnet of such companies to see if they have the resources and/or intellectual property to withstand a sustained onslaught from the scale players. I have not seen any ASX-listed cannabis companies that have the capacity to do this.