ACB - Why Canopy Growth Aurora Cannabis and Cresco Labs Stocks Fell on Monday
2023-09-18 12:54:50 ET
Marijuana stocks started out the new week on a down note Monday, with shares of Aurora Cannabis (NASDAQ: ACB) slipping 6%, Cresco Labs (OTC: CRLBF) sliding 6.2%, and Canopy Growth (NASDAQ: CGC) down 14.4%.
Unsurprisingly, Canopy Growth is probably the stock that started it all.
This morning, Canopy Growth announced that it will create 22.9 million new Canopy Growth shares and sell them for $1.09 each in a private placement . Investors who paid as much as $1.35 per share for Canopy Growth stock as recently as Friday are understandably perturbed that private investors are getting a chance to buy the stock for a nearly 20% discount.
For further details see:
Why Canopy Growth, Aurora Cannabis, and Cresco Labs Stocks Fell on Monday