Cannabis sector weakness
The first half of April 11 proved to be yet another dampener for cannabis investors’ expectations.
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CannTrust (CTST) was among the market’s biggest underperformers, with its stock sliding as much as 4.7% as of around noon, followed by Green Thumb Industries (GTBIF), which was down 4.6% as of around the same time. CannTrust’s fall has been fueled by its weak earnings, and an end doesn’t appear to be in sight.
The recently debuted Slang Worldwide (SLNG) had fallen 2.3% as of around noon on April 11. Cannabis stocks are slumping as investors are treading carefully amid warnings of a global economic slowdown.
While these stocks have continued to slump, there are signs that the United States is warming up to cannabis. Just yesterday, US Attorney General William Barr indicated his support for cannabis legalization. Read What’s Attorney General Barr’s Take on Marijuana Legalization? for more information.