Canadian pot stock meltdown

Photographer: Wilfred Iven

Photographer: Wilfred Iven


“Investors’ collective high over Canada’s burgeoning marijuana industry has evaporated, to be replaced by a comedown,” wrote Jen Skerritt for Bloomberg News published on The Globe and Mail on February 2, 2018.

Skerritt continued, “Marijuana stocks tumbled Friday amid a wave of “panic-selling” and concern that companies that had seen ballooning share prices recently are now overvalued. The BI Canada Cannabis Index plunged as much as 19 per cent, its biggest intraday drop on record, while the nation’s largest producers including Canopy Growth Corp. and Aurora Cannabis Inc. tumbled more than 40 per cent from their January highs.”

Read the full article here. 


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