Feeling burned: The first year of legal cannabis has been a complete disaster for investors
Shares of the 10 largest Canadian cannabis producers have been bludgeoned, yielding an average negative return of more than 57%
Financial Post (Canada)
Wednesday, October 9, 2019
Wednesday, October 9, 2019
The legalization of cannabis in Canada was supposed to be a catalyst — the most powerful one yet, investors and analysts alike thought — that would launch companies in the young but potent industry to new heights. Instead, nearly one year later, it has been a nightmare. Since recreational cannabis became legal on Oct. 17, 2018, the shares of what were then the 10 largest Canadian cannabis producers by market capitalization have been bludgeoned, yielding an average negative return of more than 57 per cent for investors. (See also: Short sellers cash in on cannabis as investors get fed-up with money-losing companies)
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