Marijuana Stocks Are Beating The Odds
According to Business Insider, short sellers of weed stocks, investors betting against marijuana stocks, have seen 2 million of mark-to-market losses so far this month.
On Tuesday, several major marijuana producers including Cronos Group, Aphria, and Aurora Cannabis gained more than 6% — one day Jefferies officially initiated coverage of cannabis stocks.
That rally pummeled marijuana short-sellers with 3 million of mark-to-market losses in a single day, which more than offset their month’s gain of million.
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