Led by Tilray, the U.S.-listed grower that went public in July, the shares of Canada’s pot producers skyrocketed by Wednesday, then gave most of their gains back, Bill Alpert writes in this week’s edition of Barron’s. Comparisons between marijuana stocks and the Bitcoin bubble are apt, the report adds. Canada’s licensed marijuana producers begin recreational sales on October 17 and they have acres of greenhouses in bloom, but their stock prices have been weakly tethered to business fundamentals for months now, and last week’s blow-off was all the proof needed that the trading has become irrational, Alpert contends.
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