Why Marijuana Stocks Dropped on Thursday
"Buy the rumor, sell the news" goes the old stock market maxim. But what do you do when there's new news that just keeps coming -- as is the case with marijuana stocks this week?
Apparently, you buy, then sell, then buy again, then sell again -- over and over and over again, as each successive headline rolls out. Today appears to be one of the selling days, as shares of Aurora Cannabis (NASDAQ: ACB) slid 3.1%, Tilray (NASDAQ: TLRY) tanked 3.4%, and Canopy Growth (NASDAQ: CGC) led the sector lower with a 3.6% loss as of 12:20 p.m. ET.
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Source Fool.com
