The cannabis sector has been all but demolished since the high times of 2018, when Canada legalized cannabis at the federal level, and the beginning of 2021, when President Joe Biden’s inauguration led many to believe federal legalization in the U.S. may be on the horizon.
Cannabis giant Canopy Growth Corporation (NASDAQ:CGC) has plunged about 86% from its 52-week high of $56.50 and Tilray, Inc (NASDAQ:TLRY) has plummeted over 90% from its 52-week high of $67 that it reached in February 2021.
