......A 'Repositioning' In Marijuana Stocks
Marijuana stocks reached nosebleed levels this summer and crashed after recreational legalization began in Canada. They continued to sell off Monday.
Curaleaf sank 27% on the Canadian Securities Exchange. Among U.S.-listed marijuana stocks, Canopy Growth (CGC) tumbled 14.55% in the stock market today, Cronos Group (CRON) lost 12.6%, Tilray (TLRY) fell 16%, and Aurora Cannabis (ACB) sold off 16%. Those companies all do business in Canada.
Curaleaf Executive Chairman Boris Jordan in an interview last week attributed the retreat in marijuana stocks, in part, to 'selling the news' and the broader market sell-off — a product of concerns about trade friction and higher borrowing costs. But he also said that a "repositioning" was occurring in marijuana stocks.
More cannabis investors, Jordan said, are pulling back from of the Canadian market. That market, he said, was overvalued and had limited growth potential due partly to Canada's population size.
"One, the U.S. market is bigger, so the growth potential's much more," he said. "Two, the stocks are a lot cheaper than the Canadian stocks. So I think that there is a relative repositioning taking place, because there are a lot of deals in the pipeline.".....
hmmmm.....tönt nicht sehr gut leider