Why Did Canadian Cannabis Stocks Plunge Yesterday??
Publicly traded companies levered to the Canadian medical cannabis industry came down from their highs yesterday and many investors are trying to determine why…
Although there was no specific reason for this weakness, we think these stocks moved lower due to concerns as to the expected start date for the country’s legal recreational cannabis program.
Yesterday’s move lower was a response to a sector-wide rally on Monday which was the result of favorable recommendations from a federal task force for the recreational cannabis industry.
Former deputy prime minister and chair of the federal government's cannabis task force Anne McLellan recently told CNBC, “I think one of the things we were struck by was how complex this transition actually is, and not only in terms of drafting legislation at the federal and provincial levels and putting in place all the infrastructure and training, but the psychological transition. Going from...
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