Why Did Cannabis Company Stocks Go Up In Smoke?

Why Did Cannabis Company Stocks Go Up In Smoke?

Many cannabis companies saw their stock prices soar in the first few months of 2019, only to see their valuations collapse. (Noah Berger/AP)

JP Noda stocks cannabis at The Apothecarium shortly before the store opened for its first day of recreational marijuana sales on Saturday, Jan. 6, 2018, in San Francisco. The announcement that the U.S. Department of Justice would no longer adopt a “hands-off” approach to states that have legalized marijuana use initially sent some in the industry into a tailspin, just days after the $7 billion California recreational weed market opened for business. (AP Photo/Noah Berger)