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Global Meltdown Hits an Industry on the Brink: Cannabis Weekly

  • Tilray shares plunge to record low as company issues shares
  • Investors evaluating stocks ‘from a liquidation perspective’
marijuana plants
Photographer: Cole Burston/Bloomberg
Updated on

For an industry that was already struggling to survive slumping stock prices and a virtual shutdown of capital markets, it’s hard to overstate the impact of the coronavirus-related market meltdown.

Between the close of trading on Feb. 20 and Thursday, when many global stock markets were hit by once-in-a-generation declines, the BI Global Cannabis Competitive Peers index slumped 43%, bringing its 12-month decline to about 81%.