It has not been a kind year for U.S. cannabis stocks. After starting 2021 on a tear, most leading cannabis names have sold off hard, as legislative action on legalization has dragged on and the prospects for reform have been thrown into question.
As a result, U.S. cannabis companies continue to bear high costs, and investors have lost enthusiasm for stocks without near-term profits. The Advisorshares Pure US Cannabis ETF (NYSEMKT: MSOS) is down a whopping 75% from its all-time highs as investors have fled for safer pastures.
However, the biggest U.S. cannabis multi-state operator (MSO) appears to think its shares have fallen too far, and its entire management team just put their money behind that conviction.
For further details see:
Nine Insiders Just Bought Shares of This Cannabis Stock