The Pot Stock Bubble Has Burst. Here’s Why
- Canopy reports ‘astounding’ loss, MedMen to fire 190 employees
- ‘Capital markets have gone from frothy to completely closed’
A worker inspects a cannabis plant inside a growing room.
Photographer: Konstantinos Tsakalidis/BloombergThis article is for subscribers only.
Wall Street’s exuberance over legal weed has quickly curdled into sober reality.
In a matter of months, white-hot cannabis companies have flamed out in spectacular fashion. Many have lost two-thirds or more of their value.