Rough start to the year: Weed stocks continue falling

Green Thumb Industries

14/01/2022 16:23

** North American cannabis stocks have started 2022 weaker,
with shares of U.S. cannabis producers down 6% in the first
fortnight of the year; global pot ETF down 3.4% so far
    ** Slow progress in U.S. federal marijuana legalization,
oversupply, blackmarket woes in Canada and California, as well
as lack of profitability, have plagued the sector for years
    ** Investors were hopeful the Democratic party would make
good on its promises of marijuana reform, sending the
AdvisorShares Pure U.S. Cannabis ETF to a record high in
February 2021
    ** Since then, however, the ETF has lost more than half its
value and only gained once on a monthly basis 
    ** Top U.S. cannabis producers Curaleaf  CURA.CD , Green
Thumb Industries  GTII.CD , Trulieve  TRUL.CD  and Cresco Labs
 CL.CD  down between 0.5% and 3% in afternoon trading
    ** Canadian producers Canopy Growth  WEED.TO , Tilray
 TLRY.TO , Hexo Corp  HEXO.TO  down between 5% and 13%

 (Reporting by Shariq Khan in Bengaluru)
 ((Shariq.Khan@thomsonreuters.com; Twitter: @shariqrtrs))