Why Canopy Growth, Aurora Cannabis, and Cresco Labs Stocks Fell on Monday

Marijuana stocks started out the new week on a down note Monday, with shares of Aurora Cannabis (NASDAQ: ACB) slipping 6%, Cresco Labs (OTC: CRLBF) sliding 6.2%, and Canopy Growth (NASDAQ: CGC) down 14.4%.

Unsurprisingly, Canopy Growth is probably the stock that started it all.

This morning, Canopy Growth announced that it will create 22.9 million new Canopy Growth shares and sell them for $1.09 each in a private placement. Investors who paid as much as $1.35 per share for Canopy Growth stock as recently as Friday are understandably perturbed that private investors are getting a chance to buy the stock for a nearly 20% discount.

Source Fool.com