Downbeat sentiment on stocks in general, and unhappy news concerning the pot industry specifically, make for a bummer of a Monday.
What happened?
Stocks seen to be more speculative and risky investments had a tough time of it in Monday’s market swoon. Exhibit A: U.S. marijuana companies, who took it on the chin not only from a flight to perceived quality, but also due to a handful of negative developments in their sector.
Two of those companies, multistate operators (MSOs) Curaleaf Holdings (CURLF -7.70%) and Green Thumb Industries (GTBIF -8.18%), both plummeted by around 8% on the day — a far steeper rate than even the S&P 500 index’s stumble.
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