Pot stocks have broken their three-week winning streak, a somewhat ironic shift in sentiment given that last week was full of positives on the U.S. cannabis policy front.

Stock analysts at CIBC started coverage on shares of Canopy Growth (NYSE:CGC) in a research note issued to investors on Friday, MarketBeat reports. The firm set an “outperform” rating on the marijuana producer’s stock.

The cannabis industry has been a hotbed of investor interest over the past year, and marijuana stocks have seen dramatic levels of volatility. The ups and downs in the share prices of many of the best-known cannabis companies have shown just how speculative the space is right now, but it's also critically important to understand some of the mechanics involved with these young companies and how their shares trade.

Two of the biggest Canadian marijuana producers announced important new deals last week. Aurora Cannabis (NYSE:ACB)said on Monday that it was buying privately held Whistler Medical Marijuana for up to 175 million Canadian dollars (around US$132 million), including potential milestone payments. Later in the day, Canopy Growth (NYSE:CGC)announced that it would invest up to US$150 million in hemp operations in New York state.

Big business is coming for cannabis. Huge multinationals such as alcohol giant Constellation Brands, which owns a stable of major wine, beer, and spirits; and Altria, Marlboro's parent company, are already pouring billions of dollars into the industry in Canada.

The battle with possible resistance – and potential bullish breakout trigger – at the 50-day moving average in Green Organic Dutchman Holdings Ltd (OTCMKTS:TGODF) is now underway. And the outcome in terms of the tone of the tape over coming days may decide much for how this stock trades during the first half of 2019. To further flesh out the narrative right now, the company just announced the appointment of Dr. Rav Kumar, PhD as its Chief Science Officer.

Yet another recent ripper in the MJ space so far in 2019 is CannaRoyalty Corp (OTCMKTS:ORHOF). Shares are up as much as 40% off their recent pivot lows following a strong breakout above major moving averages.

To further flesh out the story, the company just announced that it has signed a binding term sheet with Alternative Medical Enterprises, LLC to convert the Company’s 3.5% royalty interest on the sale of AltMed’s MÜV branded products into a combination of cash and 125 units of AltMed’s equity raising Origin House’s aggregate equity position in AltMed to 5.1%.

New York moves one step closer to legalizing cannabis

Marijuana or cannabis used to be an illegal drug substance, and it still is federally in the United States of America and most countries in the world. The Trudeau Liberal government made it legal so now it becomes a business in Canada.

Although it is legal, that doesn’t make it safe for most Canadians, especially our children, in terms of health, safety and their future.

I urge our city councillors — especially parents, guardians and grandparents — to vote to opt out of retail marijuana stores in our city, for a clean and safe environment.

Why talk about making money by selling marijuana to the public, when most countries in the world don’t? Why does Canada? We should protect minors and vulnerable adults.

Last year saw the legal marijuana industry take steps that had never been taken before. More specifically, our neighbor to the north, Canada, legalized recreational cannabis, becoming the first industrialized country and only the second country in the world other than Uruguay to have done so.

More so than just bringing in billions of dollars in added annual revenue in the years to come, the passage of the Cannabis Act in June and the official legalization date of adult-use pot on Oct. 17, 2018 made the weed industry a legitimate business model. In other words, cannabis is no longer considered taboo, and the red carpet has been rolled out for investors big and small.