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Cannabis Watch: Tilray CEO says marijuana companies lied about how much pot they could grow

Tilray Inc. Chief Executive Brendan Kennedy said late Tuesday that the cannabis producer would have sold a lot more weed if growers in Canada hadn’t lied about how much pot they could actually grow.

Tilray TLRY, +4.88%reported quarterly earnings Tuesday afternoon, and sales continued to ramp slower than many investors expected. Kennedy said that while there was a widespread prediction of a supply glut of cannabis in Canada, that has not turned out to be the case. In fact, Tilray continues to have difficulty sourcing an adequate amount of high-quality marijuana, and Kennedy expects supply issues to remain a problem in Canada for the next 18 to 24 months.

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