Ratings agency DBRS Ltd. has given the Canadian Cannabis industry a “non-investment grade” rating.
The DBRS agency sites “no data available on how the sector has performed to date”. If there is no data available, why not just wait until their is to issue a rating? It’s like a judge making a ruling on a case without any evidence. It would make sense to wait for the data before saying anything.
How reliable are these ratings agencies? Back in 2007 the main ratings agencies gave AAA ratings to sub prime mortgage backed securities leading up to the 2008 financial collapse.
The timing of this rating is very suspicious. Who stood to benefit from the timing of this ratings release? The answer to that question is the short sellers. The timing was just too perfect and the lack of reasoning makes this whole situation reek of manipulation.
This information was released in the midst of a major correction in the Cannabis sector and may have been a significant factor in causing almost all Cannabis related stocks to plummet an additional 10-20% this morning after being hammered the day before.
Is this all a coincidence or is there more to this story? It would make sense for the market regulatory body to take a deeper look into this situation. It is their duty to protect the average retail investor and that didn’t happen here.
Was this a classic case of “short and distort” or was it simply a coincidence?
Let us know what you think on social media.
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