Whilst this is an interesting concept and I applaud the team for getting this listed, the reality is that it has lost over 50% of its value since IPO and could deflate down to the value of its cash on hand.
The physical cannabis clinic model is dead and buried.
It's expensive, geographically limited and designed to operate purely as a capital market story.
Cannabis Access Clinics had opened around 10 clinics over the last 3 years and now shut them all down and consolidated them to a single clinic.
EMD are looking to do a model with high costs, low revenue and lack of scalability.
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