At one point last year, the marijuana stock sector was the leading sector in the entire market.
Everywhere analysts were hailing it as the next great growth sector, especially after Canada joined several states in the U.S. to legalize weed, both medically and for recreational use. Made sense, and before anyone could say “don’t Bogart that joint” there were cannabis shops practically fighting Starbucks for retail space.
At one point, the founder and CEO of TLRY, because he owned so much stock in his heralded IPO, was something like the fourth richest man in the world…for a day. But now that day is done.
The chart panel below tells the rest of the story and there is not much more to say about that.