Pot stocks dip on broader US recession worries

Curaleaf Holdings

05/08/2024 16:44

** Shares of cannabis firms fall amidst a broader sell-off
in the market 
    ** Wall Street's main indexes slumped on fears of the United
States tipping into recession following weak economic data last
week  .N 
    ** Gordon Johnson, CEO and Founder of GLJ Research, said a
yen carry-trade was also affecting stocks
    ** Carry trades are when investors borrow in money from
economies with low interest rates such as Japan or Switzerland
to fund investments in higher-yielding assets elsewhere
    ** Tilray Brands  TLRY.O  falls 5.7%, U.S.-listed shares of
Canopy Growth  WEED.TO   CGC.O  fall 7%, Aurora Cannabis
 ACB.TO   ACB.O  dips 7.4%
    ** ETF AdvisorShares Pure US Cannabis  MSOS.P  falls 5.3%

 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com;))