Why Curaleaf Stock Got Smoked on Wednesday
Investors buy marijuana stocks for the potential high they can provide, but on Hump Day, Curaleaf (OTC: CURLF) produced the wrong kind of buzz. The veteran pot company saw its share price sag by almost 5% on the day, on the back of a discouraging media report about weed legalization. That was a far more pronounced slide than the S&P 500's (SNPINDEX: ^GSPC) decrease of 1.6%.An article published well before market open in The New York Times that day detailed the stalling effort to effectively decriminalize marijuana sale and consumption. Image source: Getty Images.Continue reading
Investors buy marijuana stocks for the potential high they can provide, but on Hump Day, Curaleaf (OTC: CURLF) produced the wrong kind of buzz. The veteran pot company saw its share price sag by almost 5% on the day, on the back of a discouraging media report about weed legalization. That was a far more pronounced slide than the S&P 500's (SNPINDEX: ^GSPC) decrease of 1.6%.
An article published well before market open in The New York Times that day detailed the stalling effort to effectively decriminalize marijuana sale and consumption.
Image source: Getty Images.
