The cannabis industry is characterized by growth and bullish speculation, with regulations being loosened worldwide.

However, many investors do not believe all the hype and have an intuition that the industry is overvalued. Today we have dug up four Canadian cannabis stocks with the largest short position, as of June 6, 2019.

The Botanix Pharmaceuticals Ltd (ASX: BOT) share price has been a standout performer on the Australian share market on Thursday. In morning trade the clinical stage cannabinoid company’s shares rocketed 25% higher to an all-time high of 17.5 cents.

Why did the Botanix share price rocket higher today?

Hot on the heels of a positive update on its BTX 1308 psoriasis Phase 1b mechanism of action study on Wednesday, this morning the company released an update on its BTX 1801 antimicrobial product.

According to the release, the company has received positive new data from studies recently conducted at The University of Queensland’s Institute for Molecular Bioscience’s Centre for Superbug Solutions.

Canadian cannabis producer CannTrust (CTST) on Wednesday said it planned to enter the U.S. hemp-derived CBD market via a joint venture that will focus on production in California, an announcement that sent CannTrust stock racing higher. Other marijuana stocks also rose.

CFN Media Group ("CFN Media"), the leading agency and financial media network dedicated to the North American cannabis industry announces publication of an article discussing THC BioMed (CSE: THC) (OTCQX: THCBF).

Should investors anticipate write-downs from unused inventory held by Canadian pot producers? 

2019 is the year of cannabidiol (CBD). And that's why we've compiled a list of the three best CBD penny stocks to watch in June 2019.

According to the Hemp Business Journal, the CBD industry was valued at $170 billion in 2017. Right now, it's currently worth $591 million. By 2022, Brightfield Group says it'll soar to $22 billion. That's an insane 13,000%increase in just six years. Which is exactly why Money Morning has been so bullish on CBD penny stocks over the last several years.

Sir Sam’s Inn & Spa has been around for many years, but the luxury retreat located on Eagle Lake in Haliburton has recently announced that they’re trying to keep up with the times.

Sir Sam’s is set to become Ontario’s first “cannabis friendly” hotel, allowing guests to smoke weed on the premises.

The Inn has signed up with HotelCannabis.com, a travel site for those looking for marijuana-friendly accommodations.

They are the first Ontario-based establishment to do so.

Under the Smoke-Free Ontario Act, cannabis can be smoked anywhere cigarette smoking or vaping is permitted.

Only registered guests would be allowed to partake, and only on balconies or designated outdoor areas.

Much of the investing world holds its breath whenever one of the top marijuana companies reports its quarterly earnings. Given that we’re still in the early stages of the development of the industry, it’s critical to pay attention to how the market develops and which companies are making a major impact.

The latest major pot company to report its quarterly earnings was Hexo Corp (TSX:HEXO). Let’s see how the Quebec-based company did.

There has been a big role reversal for MariMed (NASDAQOTH: MRMD) and Village Farms International (NASDAQ: VFF). In 2018, MariMed ranked as one of the top-performing U.S. marijuana stocks, jumping 371% while Village Farms plunged 47%. So far this year, however, Village Farms is one of the biggest winners, with the stock up more than 270% while MariMed's share price has dropped more than 30%.

In the first report, the Government of Canada says it earned C$186 million from taxes on legal marijuana products in the first five and a half months after the legalization of recreational use on October 17. In 2019 alone, the government has collected a total of C$107.1 million from general and excise taxes at both the federal and provincial levels.

The provinces have accumulated C$79 million in excise taxes, while the federal government has raked in excise tax revenue of C$19 million so far in 2019.

In its release, the government indicates that revenue from general taxes is expected to rise for the remainder of 2019 as more cannabis stores open their doors across the country.