The Double Whammy That Sent Marijuana Stock Insys Therapeutics Crashing

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The Double Whammy That Sent Marijuana Stock Insys Therapeutics Crashing

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What happened
Shares of Insys Therapeutics (NASDAQ:INSY), a small-cap biotech with a focus on pain management, plunged as much as 30% on Wednesday after receiving a double whammy. One whammy was the arrest of the company’s founder; another was negative commentary from President Trump regarding opioids in general.

So what
As very quick background: Insys’ troubled lead drug Subsys, a synthetic opioid, has seen its sales slashed in half over the past two years.

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