Well, it was fun while it lasted. Canadian marijuana stocks (as measured by the Canadian Marijuana Index) have been crushed recently, giving back rebound gains from the recent short volatility rout which saw U.S. equities briefly enter correction territory. While the broad market has retraced 2/3’s of the loss—and Bitcoin even more—cannabis stocks are re-testing recent lows. We explore what happens next. Before interdicting my own thoughts, we should give plenty of consideration to the words of the man who’s nailed the state of the market lately: Midas Letter CEO and master small cap pundit, Mr. James West. It was only two months ago that Mr. West warned investors of an imminent valuation bubble is marijuana stocks. The Canadian Marijuana Index Is Getting Eviscerated—What Next?
thumbnail courtesy of midasletter.com