TLRY - There Are Only 9 Billion-Dollar Pot Stocks Left
As recently as the end of March, cannabis stocks were chugging along and handily outpacing the returns of the broader market. At one point, there were more than one dozen marijuana stocks sporting a market cap of at least $1 billion. But times have definitely changed.
Since the first quarter ended, the Horizons Marijuana Life Sciences ETF, the first-ever cannabis-focused exchange-traded fund, has lost about 56% of its value, inclusive of dividends paid, and aggregate market value losses for the entire industry look to be well in excess of $40 billion. As of the end of November, just nine pot stocks remain as billion-dollar companies, and this figure may continue to decline.
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