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Photographer: Konstantinos Tsakalidis/Bloomberg Photographer: Konstantinos Tsakalidis/Bloomberg

Debt capital is finally becoming more widely available to cannabis companies, according to one of the biggest bankers to the industry.

“You’re definitely going to see debt capital flow into the sector,” Dan Daviau, chief executive officer of Canaccord Genuity Group Inc., said in an interview at Bloomberg’s New York office last week. “That’s happening as we speak. You’ll see several debt deals announced over the next week or so.”

Although debt-like forms of financing such as convertible debentures are common in the pot sector, very few companies have issued true corporate debt. Trulieve Cannabis Corp. and Green Thumb Industries Inc. are two of the only cannabis companies to tap the fixed-income markets in a significant way.

Read more: Big Marijuana Embraced Convertibles. Now They’re Under Water

Soon “four or five of the biggest guys are all going to have corporate-level debt,” according to Daviau. This is because some of the largest operators, particularly in the U.S., are beginning to report profitable quarters, making them more attractive to lenders.

While the flow of pot companies going public has virtually dried up, there’s still investor interest from “really rich family offices” and “massive hedge funds,” including one he met with last week that has $46 billion under management, he said.

After an eight-month rout that saw cannabis stocks fall by approximately 60% from their highs, Daviau believes the sector has hit bottom.

“You’ve had a lot of accounts betting against the sector and most of them are reversing those bets,” he said. “I think that’s a good sign of a bottom.”

Green Wednesday

It turns out Green Wednesday is a real thing. Dispensaries in California, Colorado, Nevada and Washington saw a 40% jump in sales on the day before U.S. Thanksgiving compared to the average of the previous four Wednesdays, according to data from cannabis analytics firm Headset Inc.

This was in contrast to Black Friday, the busiest shopping day for most other retailers, when sales were actually 6% below the average of the four previous Fridays, Headset said. This may have resulted from the magnitude of the discounts offered on Black Friday, when the average markdown was 19.1% compared to 12.8% on Green Wednesday.

“On Green Wednesday there was a modest increase in discounting but a large increase in sales volume, which suggests that consumers were there to stock up for the long weekend and were less price sensitive,” Headset said in its analysis.

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— With assistance by Esteban Duarte