|Bid||4.0400 x N/A|
|Ask||4.0500 x N/A|
|Day's range||3.8700 - 4.0700|
|52-week range||3.6000 - 17.4600|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||N/A|
|Earnings date||07 Oct 2022|
|Forward dividend & yield||N/A (N/A)|
|1y target est||N/A|
Marijuana investors are getting bummed out on Wednesday, as a stock market rally that roared early in the week begins to falter. As of 12:05 p.m. ET, both Canopy Growth (NASDAQ: CGC) and Aurora Cannabis (NASDAQ: ACB) are down about 5.5%, while Tilray Brands (NASDAQ: TLRY) suffers a smaller loss of 3.5%. Partly, this sell-off is just a function of stock markets in general being down today -- but as it turns out, marijuana stocks may have a problem all their own.
Tilray and SNDL are both down by over 59%, and Aurora's shares are performing even worse, losing more than 77% of their value. Considering that the market-tracking SPDR S&P 500 ETF Trust is only down by around 21.9%, it's no shock that shareholders are second-guessing their investments in these so-called growth stocks, nor is it surprising that potential buyers are hesitating to start new positions. In fact, with the exception of SNDL, their quarterly gross margins have actually gotten worse over the last three years.
There is always an opportunity cost to consider -- like earning a worse return as a result of making a poor investment decision. A couple of stocks that look too risky to buy with even free money are Tilray Brands (NASDAQ: TLRY) and BlackBerry (NYSE: BB).