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Tilray plunges most on record as cannabis stocks tumble - Article

Tilray Inc. fell 50 per cent Thursday, the most ever, halting a record three-day rally as another Reddit-inspired push into cannabis stocks quickly unraveled. The loss helped push the ETFMG Alternative Harvest ETF, known by its ticker MJ, down 25 per cent in its biggest ever drop as other pot stocks also see-sawed from gains to losses. Canopy Growth Corp., the biggest cannabis company by market value, also took a sharp drop ending 22 per cent lower. “The market has a pretty bad case of ADHD these days, and the latest shiny object for what has been a rabid retail crowd is cannabis stocks,” said Ben Johnson, Morningstar’s global director of ETF research. “The all-important question is whether all of those fundamentals, all of that enthusiasm is priced into the shares or not.”

Tilray gets dose of reality as pot stocks reverse gains - Article

Tilray Inc. fell 50 per cent Thursday, the most ever, halting a record three-day rally as another Reddit-inspired push into cannabis stocks quickly unraveled. The loss helped push the ETFMG Alternative Harvest ETF, known by its ticker MJ, down 25 per cent in its biggest ever drop as other pot stocks also see-sawed from gains to losses. Canopy Growth Corp., the biggest cannabis company by market value, also took a sharp drop ending 22 per cent lower. “The market has a pretty bad case of ADHD these days, and the latest shiny object for what has been a rabid retail crowd is cannabis stocks,” said Ben Johnson, Morningstar’s global director of ETF research. “The all-important question is whether all of those fundamentals, all of that enthusiasm is priced into the shares or not.”

Tilray Plunges Most on Record as Cannabis Stocks Tumble

Tilray Plunges Most on Record as Cannabis Stocks Tumble Bloomberg 2/11/2021 Michael Bellusci and Kristine Owram (Bloomberg) Tilray Inc. fell 50% Thursday, the most ever, halting a record three-day rally as another Reddit-inspired push into cannabis stocks quickly unraveled. Popular Searches The loss helped push the ETFMG Alternative Harvest ETF, known by its ticker MJ, down 25% in its biggest ever drop as other pot stocks also see-sawed from gains to losses. Canopy Growth Corp., the biggest cannabis company by market value, also took a sharp drop ending 22% lower. “The market has a pretty bad case of ADHD these days, and the latest shiny object for what has been a rabid retail crowd is cannabis stocks,” said Ben Johnson, Morningstar’s global director of ETF research. “The all-important question is whether all of those fundamentals, all of that enthusiasm is priced into the shares or not.”

CURALEAF HLDGS INC by Curaleaf Hldgs Inc (CURLF) - Cresco Labs To Start Adult-Use Cannabis Sales In Phoenix On Heels of Election Day Legalization

Cannabis company  Cresco Labs (CSE:CL) (OTCQX:CRLBF) was approved by the Arizona Department of Health Services to commence adult-use sales at its Sunnyside dispensary in Phoenix in mid-February. The company s Sunnyside dispensary is located at 2620 West Encanto Boulevard in Phoenix. Cresco joins other big cannabis enterprises who already obtained approval for recreational marijuana sales in The Grand Canyon state, including  The Mint Dispensary,  Curaleaf Holdings Inc. (OTCQX:CURLF),  and Harvest Health & Recreation Inc. (OTCQX:HRVSF). Arizona said yes to recreational cannabis legalization during November’s election, and started the application process on Jan. 19. Dispensaries can apply online, but are required to pass an FBI background check. The application fee is set to $25,000.

The Week In Cannabis: Arizona Adult-Use Sales, Big Financings, M&A, And A Nasdaq Debut

The Week In Cannabis: Arizona Adult-Use Sales, Big Financings, M&A, And A Nasdaq Debut
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