Wow! This Marijuana Megamerger Just Imploded.
For years, marijuana has been a big moneymaking investment. As recently as the end of the first quarter, early entrants into the legal pot industry were likely sitting on triple-digit or quadruple-digit gains in a matter of two or three years. It was easy for investors to get behind the idea of cannabis considering that Wall Street has been forecasting as much as $200 billion in annual global sales in a decade.
But between the end of March and today, the wheels fell off the wagon. While this wasn't unexpected, the timing of when the bubble would burst was never known, and the speed at which pot stocks have declined over the past six-plus months has certainly caught investors by surprise.
However, falling valuations aren't the only thing catching the attention of cannabis investors. Last week, we saw the very first marijuana megamerger implode before our eyes.
Source Fool.com
