Why Aurora Cannabis, HEXO, and Sundial Growers Are Moving Down Today
Marijuana stocks had been soaring since the U.S. election, but the last five days have marked a reversal. After an earlier drop of 10%, shares of Aurora Cannabis (NYSE: ACB) were down 5% as of 1:45 p.m. EST. HEXO (NYSE: HEXO) shares are down 9%, and Sundial Growers (NASDAQ: SNDL) 18% at the same time.
The stocks of the three companies have risen between 60% and 200% just since the election. But each is down double digits in the past week as well as since the start of 2020.
The surge hasn't compensated for what's been a rough year for cannabis stocks. And there are fundamental reasons why shares in companies like Aurora are down sharply this year.
Source Fool.com
