These 4 Top Canadian Cannabis Stocks Have Lost Over $60 Billion in Market Value From Their All-Time Highs
Canopy Growth Alone Has Lost Almost $17 Billion in Value From It’s Peak Valuation of $24 Billion
The sky is falling on Canadian pot stocks as the sector continues to sell-off in dramatic fashion. Cannabis stocks have been under pressure since the market rolled over earlier this year but things took a turn for the worst last week after Canopy Growth (TSX: WEED) (NYSE: CGC), Aurora Cannabis (TSX: ACB) (NYSE: ACB), Tilray (NASDAQ: TLRY) and Cronos Group (TSX: CRON) (NASDAQ: CRON) reported abysmal earnings which featured an astounding $$374.6 million quarterly loss from Canopy.
As expected the big earnings miss from all 4 companies reinvigorated the sell-off and sent shares of most cannabis stocks plummeting. A select few of the financially stronger pot stocks have managed to buck the trend as investors flock to their stock in an attempt to seek shelter. Most of those stocks are multi-state operators (MSO) with operations based in the United States. It is becoming evident that investment capital is leaving Canada for greener pastures south of the border. We’ll follow up on those U.S. companies after they report earnings soon.
Today we are going to take a walk back in time to the glory days when the big 4 Canadian licensed producers (LP) were on top of the cannabis world. We’ll review the shocking fall from grace and analyze their all-time stock charts as well as some key statistics that will put things into perspective.
Canopy Growth (TSX: WEED) (NYSE: CGC)
- All-Time High Share Price: $76.68 on Oct. 15/18
- Current Share Price: $18.78
- Share Price Decline from Peak: -75.51%
- All-Time High Market Cap: $24.5 Billion on Apr. 29/19
- Current Market Cap: $6.5 Billion
- Market Cap Decline from Peak: -73.47
Canopy Growth (TSX: WEED) | All-Time Chart
Aurora Cannabis (TSX: ACB) (NYSE: ACB)
- All-Time High Share Price: $16.24 on Oct. 16/18
- Current Share Price: $3.00
- Share Price Decline from Peak: -81.53%
- All-Time High Market Cap: $15.6 Billion on Oct. 16/18
- Current Market Cap: $3.15 Billion
- Market Cap Decline from Peak: -80.13%
Aurora Cannabis (TSX: ACB) | All-Time Chart
- All-Time High Share Price: $300 on Sept. 19/18
- Current Share Price: $19.19
- Share Price Decline from Peak: -93.6%
- All-Time High Market Cap: $27.9 Billion on Sept. 19/18
- Current Market Cap: $2 Billion
- Market Cap Decline from Peak: -92.83%
Tilray (NASDAQ: TLRY) | All-Time Chart
Cronos Group (TSX: CRON) (NASDAQ: CRON)
- All-Time High Share Price: $32.95 on Feb. 4/19
- Current Share Price: $8.15
- Share Price Decline from Peak: -75.27%
- All-Time High Market Cap: $9.8 Billion on Mar. 8/19
- Current Market Cap: $2.8 Billion
- Market Cap Decline from Peak: -71.43%
Cronos Group (TSX: CRON) | All-Time Chart
* Calculations are based on the closing share prices on November 18, 2019.
Also Read: Why Are These 4 Cannabis Stocks Holding Up So Well Amongst The Carnage?
Charts source: Barchart.com
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