Cannabis Public Companies Take Deep Dive This Month | CashCropToday
0 Shares 102 Views

Cannabis Public Companies Take Deep Dive This Month

October 24, 2018
102 Views

The month of October has not been kind to public cannabis companies. The entire sector has now taken a wrong turn, falling more than 20% over the course of the past seven trading days. Top cannabis companies such as the popular company Tilray (NASDAQ: TLRY), which has fell by 6%, and Canopy Growth Corporation (TSX: WEED), which has fell 3.45%, are losing investors’ confidence rapidly.

The current stake of cannabis public stocks is curious to say the least. On October 17, 2018 Canada legalized recreational cannabis throughout the country. Most in the financial communities figured this move in legislation would have an opposite, positive, reaction on stocks involved in this sector of the market.

Others believe the decline in these companies share price can be attributed to a sell off point and profit gain for investors due to the excited surrounding recreational cannabis in a G7 country. Very plainly put investors may have seen legalization in Canada as a high point for stocks involved in the sector, which then lead them to then sell their positions.

Over the past few years financial analysts have given the opinion to investors to be optimistically cautious when investing in marijuana stocks due to their volatile nature, even though these stocks usually rally towards the end of the year due to new legislation passing when the clock strikes January 1. Over the next few months, investors hope to see an increase in profits moving towards 2019.

You may be interested

MJardin Group Announces CSE Listing and GrowForce Acquisition
Market Watch
17 views
Market Watch
17 views

MJardin Group Announces CSE Listing and GrowForce Acquisition

Editor - November 16, 2018

MJardin Group, Inc. (CSE: MJAR) announced earlier this week that the company will begin trading the company’s common stock on the Canadian Securities Exchange, under the ticket…

Invictus Strategies Corp. to Acquire GTEC Holdings in Exchange for $100M in Stock
Market Watch
28 views
Market Watch
28 views

Invictus Strategies Corp. to Acquire GTEC Holdings in Exchange for $100M in Stock

Editor - November 16, 2018

Invictus Strategies Corp. (TSXV: GENE) (OTCQX: IVITF) has announced this morning that the company has entered into an agreement to acquire GTEC Holdings Ltd. (TSXV: GTEC) (OTC:…

Columbia Care Receives Licenses from Maltese Government
Global
60 views
Global
60 views

Columbia Care Receives Licenses from Maltese Government

Editor - November 15, 2018

Columbia Care LLC. has announced this morning that the company has gain approval from Malta Enterprises, the regulatory economic development agency in the country, to receive licenses…

Leave a Comment

Your email address will not be published.

Most from this category

%d bloggers like this: