A large number of cannabis company stocks surged on Tuesday, Dec. 31st, the last trading day of 2019, which could be a sign that investor confidence is building going into 2020. Let's hope so as the marijuana market is down almost 65% from its hype-driven peak in March of 2019. Here's a list of the major gainers.
(All currency figures are in Canadian dollars. Go here to convert into USD.)
(Click on image to enlarge)
Marijuana companies were the worst-performing sector in 2019 as a result of weaker-than-expected earnings, over-expansion or a lack of adequate financing and, as a result, have found themselves enacting layoffs and other cost-cutting measures. Perhaps yesterday's performance signals the market turnaround we have all been waiting for. Time will tell so stay tuned for updates.
.webp)
Comments
Log in or sign up to join the conversation.