Why Marijuana Stocks Like Sundial Growers Were Wilting Today
Marijuana stocks are quite an up-and-down asset class, with accent on the "down." That was their story on Tuesday, with many of the major titles falling in price.
Canadian companies Canopy Growth (NASDAQ: CGC), Sundial Growers (NASDAQ: SNDL), and Hexo (NASDAQ: HEXO) declined by nearly 7%, 9%, and 7%, respectively. Their American peers Curaleaf Holdings (OTC: CURLF) and cannabidiol (CBD) products specialist Charlotte's Web Holdings (OTC: CWBHF), meanwhile, tumbled by a respective 7% and 5%.
For the most part, this is basically a sell-off within a volatile, nervous market. The situation in Ukraine has a great many investors on edge, and when investors are on edge, they tend to trade out of more speculative assets. A prime example is marijuana stocks, which have been socked numerous times in situations like this.
Source Fool.com
