Why Curaleaf Holdings Stock Is Cratering Today

Shares of the multi-state operator (MSO) and American cannabis company Curaleaf Holdings (OTC: CURLF) are down by a hefty 10.9% as of 2:18 p.m. ET Tuesday afternoon. Curaleaf's shares have been cratering over the past few trading sessions due to a false social media narrative suggesting that the company's executives might be subject to U.S. government sanctions stemming from the Russian-Ukranian conflict.

Curaleaf recently addressed this narrative via a press release. Specifically, the company stated that, "The speculation on social media that the Company and its major shareholders and executives will somehow be subject to any U.S. government economic sanctions now or in the future is incorrect." Curaleaf has lost nearly a quarter of its value over the past week due to these stubbornly persistent social media rumors. 

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Source Fool.com