OGI - Money Managers Sold These 3 Cannabis Stocks in Q4
There's no sugarcoating it -- marijuana stocks had an awful 2019. A combination of persistent supply issues throughout much of Canada, high tax rates in a number of key U.S. markets, and a resilient black market presence made life very difficult for cannabis stocks last year, with quite a few ending 2019 at or near multiyear lows.
Interestingly, though, asset managers didn't flee pot stocks during the fourth quarter. Rather, data found on Form 13F aggregator website WhaleWisdom.com shows that a majority of cannabis stocks listed on either the Nasdaq or New York Stock Exchange (NYSE) saw their total number of shares held by money management firms with at least $100 million in assets under management rise in the fourth quarter.
Of course, there were a few exceptions.