Technology Manias - EᐯEᖇYTᕼIᑎG YOᑌ ᑎEEᗪ IᑎᗪEEᗪ
The marijuana industry is in a deep financial funk. Stock prices have plummeted roughly 45 percent since mid-February, according to the AdvisorShares Pure U.S. Cannabis ETF, a popular gauge of the sector. Over the same time period, the broader S&P 500 is up about 20 percent. “It’s got to be one of the worst performing asset classes in the United States, sadly,” said Morgan Paxhia, co-founder of Poseidon Asset Management, a cannabis investment firm. One big reason for the financial doldrums is that Congress and the Biden administration have done…
The post Investors sour on cannabis after Democrats fail to help industry appeared first on Technology Manias.
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