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The rise and fall of cannabis stocks

Published on March 18, 2020 by oz. staff

In only a short period of time, we have witnesses the rise and fall of cannabis giants.

Aurora Cannabis shares have plummeted from over $13 a share a year ago to under a cent.

The company’s founder, director, and former CEO Terry Booth sold nearly 12.2 million shares over the past few days — that’s two-thirds of his position in the company’s equity.

Booth announced his retirement from the CEO position in February. Aurora’s management says the sale is part of a previously announced transition plan.

Still, it sure sends a message to investors.

Another canary in the coalmine when it comes to cannabis stocks, is Tilray.

In 2018, Tilray was worth $150US. Today it’s trading for $2.50.

Overall, cannabis stocks have been losing investors money for a while now. COVID-19 is not helping matters.