What happened

On Monday, marijuana stocks were on fire, but on Tuesday, it’s mostly smoke and ashes. As of 9:45 a.m. EST, shares of industry giant Canopy Growth are down 4.9%, while smaller Tilray has tumbled 15% and Aurora Cannabis is down 21.6%.

I suppose there are any number of theories for why this might be: worries that the Democrats will not, in fact, sweep the White House, House of Representatives, and U.S. Senate, ushering in a “green” new deal of an entirely different sort — or simply the law of gravity, and the knowledge that what goes up, must come down.

However, I prefer to think that whenever possible, investors respond to facts rather than theories –and the fact is that all three of these cannabis companies reported earnings yesterday.

And the fact also is that those earnings were not great…CLICK for complete article