Shares of the biggest cannabis players are falling in conjunction with the wider market Monday. The Dow Jones Industrial Average dropped 1.56%, or 396 points, while the Nasdaq fell deeper into correction territory, falling 3.03% on the day, and the S&P 500 declined 1.66%.
Cannabis was not immune from the selloff.
Canada, which recently legalized non medical adult-use cannabis, is expected to generate up to $7.17 billion in total sales in 2019, according to a recent Deloitte report.
But a spate of disappointing earnings last week has some investors reevaluating the immediate viability of some of the biggest names in cannabis. Here's how pot stocks are doing today.
India Globalization Capital Inc. (IGCC) dropped 7.08%.