The chart explores the capital intensity of cannabis compared to four other industries thought to be likely suitors for cannabis companies upon federal legalization: Tobacco, Alcoholic Beverages, Pharmaceuticals, and Consumer Products.
In the chart, the cannabis group comprises the nine MSOs with market caps over $100M.
Tobacco includes British American Tobacco (NYSE:BTI), Altria (NYSE:MO), Phillip Morris International (NYSE:PM), and Japan Tobacco (OTC:JAPAF).
Alcoholic Beverages include ABEV (NYSE:ABEV), Brown-Forman (NYSE: BF-B), Constellation Brands (NYSE:STZ), Diageo (NYSE:DEO), and Molson Coors (NYSE:TAP).
Pharmaceuticals include Johnson & Johnson (NYSE:JNJ), Pfizer (NYSE:PFE), Merck & CO. (NYSE...