Down 20%: Plummeting Pot Stock Scandal
For investors continuing to search for a dominant player to invest in to get early exposure to the nascent marijuana industry in the U.S., today's crash for Cannavest may serve as a sobering reminder that this is still an extremely difficult area to invest in. The company, which is more a cannabinoid-based biotech rather than an actual marijuana stock, is watching shares plummet 20% today after disclosing that its last three quarterly reports had material errors. This has been a particularly rough period for Cannavest, which has lost more than 75% of its value in the past month.
In this video, Motley Fool health-care analysts David Williamson and Michael Douglass discuss Cannavest and marijuana stocks, and why they still represent an extremely risky play on the market today.
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The article Down 20%: Plummeting Pot Stock Scandal originally appeared on Fool.com.David Williamson has no position in any stocks mentioned. Michael Douglass has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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