Aurora Cannabis stock plunges in NYSE debut

New York (CNN News) Aurora Cannabis, one of Canada 's largest cannabis, made a debut on the New York Stock Exchange on Tuesday, but it did not perform well. Stock prices quickly fell more than 15% and recovered at the end of the following day

Since last week's legalization of casual marijuana in Canada, investors have dumped marijuana stocks. This is the classic case of buying rumors and selling news.

Stock prices of canopy growth rate (CGC), Cronos (CRON) and Tilray (TLRY) fell by about 10% on Tuesday. In the last 5 days, each has decreased by about 30%.

However, Canopy Growth's investment surpassed the US beer giant Constellation Brand (STZ) by more than $ 4 billion and has jumped more than 50% over the past three months.

Aurora (ACB) is a company that has various businesses in the marijuana industry as a whole - it is known as Berkshire Hatkow (Potk).

However, the Canadian Cannabis company may be starting to worry about supersaturation. How many really hemp companies do you need in the world?

DBRS analysts said, "At the moment, marijuana is still a relatively small sub-sector in the consumer goods industry and the overall economic situation", "All industries are not equal and many actions fail" "I added. "

It sounds like an internet stock in the late 1990s. At that time, online shopping accounted for only a small part of the whole retail industry. However, the company is considering the establishment of an e-commerce website.

In an article published in the New York Stock Exchange earlier this month, Aurora intends to "respond to the growing demand for high quality cannabis in Canada and abroad" and work on "scientific research on cannabis medical application" It is.

None of these did not hurt investment frenzies surrounding cannabis stocks. Let's take Aurora Cannabis for example. Currently, the stock price of darling has reached $ 5 billion now. Too optimistic CEO Terry Booth was once an electrician. Now he runs a company that is more valuable than Maple Leaf Food. The current annual sales of Aurora is equivalent to 62 million dollars. So far, it produces only 7 tons of weeds. But please do not mind the past. At the moment, it is building subdivision of the glass wall building to produce a large number of products for the hunger world. The stock price you just purchase will just rise. No?

The black mass bubble soared on Thursday, the market value of shares listed on the New York Stock Exchange in the next three years was reduced by 74 billion dollars, and the United States and the world faced a Great Depression. According to the report of the House of Representatives, in the decade after World War I, half of the $ 50 billion new US floating securities turned out to be largely fraudulent. In response, Congress enacted the Securities Act of 1933 and the Securities Exchange Act of 1934. This was enforced by the US Securities and Exchange Commission. The law requires important disclosure of companies that generally sell securities and provides rules to facilitate transactions in such securities transactions. Over the years these two regulations have evolved in financial and innovation to fulfill the same role today.

The New York Stock Exchange traded stocks from the first day. Contrary to what some people think, the New York Stock Exchange is not the first stock exchange in the United States. The Philadelphia Stock Exchange has a title. However, the New York Stock Exchange was quickly becoming the country's strongest stock exchanger as it has little domestic competition and is located in New York's American trade and economic center. Today, almost every country in the world has its own stock market. In developed countries, the major stock markets emerge in the 19th and 20th century after the London Stock Exchange and the New York Stock Exchange were first established. From Switzerland to Japan, all the major economic powers of the world have a highly developed stock market.