Warning Signs Flashing for Downward Valuation of Canadian Cannabis Stocks
The last time the Investment Industry Regulatory Organization of Canada (IIROC) intervened in the trading of Canadian publicly traded cannabis companies was in November 2016. Canopy Growth Corp, the first, biggest, and most valuable ACMPR-licensed grower had popped to over $17 a share on no news, and IIROC halted trading to “to ensure a fair and orderly market.”
IIROC halted stocks multiple times that day, with trading resuming on an average of about 10 minutes later in all cases.
What followed was the onset of a downward revision in valuations for all the major publicly-listed cannabis players, which culminated in a halving of the value, roughly, of the entire sector. (see chart below).
But on the last trading day of 2017, IIROC again stepped in, this time after a handful of the largest stocks had begun to sell off after …
Original article: Warning Signs Flashing for Downward Valuation of Canadian Cannabis Stocks
©2017 Midas Letter. All Rights Reserved.
Source: https://www.midasletter.com/2017/12/warning-signs-flashing-downward-valuation-canadian-cannabis-stocks/
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