Alcohol sales fell by 15 percent following the introduction of medical marijuana laws in a number of states, according to a new working paper by researchers at the University of Connecticut and Georgia State University.
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At one point, MassRoots was flying high, raising millions of dollars from investors and attempting to become the first cannabis company listed on the Nasdaq.
Canopy Growth Corp. (TSX:WEED) was the first cannabis stock to the market and quickly captured the attention of traders and risk-taking growth investors alike. As a result, shares of Canopy skyrocketed 300% in a span of just a few months last year.
Clinical-stage cannabinoid-based drug developer Zynerba Pharmaceuticals (NASDAQ:ZYNE) had been one of the strongest-performing pot stocks over the trailing year prior to the start of this past week.
Identifying companies in great financial health is important when investing in an industry like marijuana. That being said, the Canadian marijuana stocks on our list all have current ratios of at least 10x, and debt to equity ratios under 20%.
On June 27, Cara Therapeutics (NASDAQ:CARA), a clinical-stage biotech company with a focus on treating chronic pain and pruritus, surged to an all-time intraday high of $28.50 a share. Cara was just $73 million away from joining the $1 billon market cap ranks.
The results for Canopy Growth’s stock have been terrific so far, yielding a return of over 152% since inception. The stock has been performing well despite lacklustre results and frequent losses.
Minnesota’s two licensed medical marijuana manufacturers have lost a combined $11 million in just two years of sales, according to financial documents obtained by the Associated Press
The recently debuted marijuana stock ETF, the Horizons Medical Marijuana Life Sciences ETF, has lost value for those who’ve decided to take the plunge.
These 5 marijuana stocks lost a combined $193 Million in 2016. Though they’re some of the top performers, they’re also among the companies losing the most money on an annual basis.