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Why Canopy Growth, Aurora Cannabis, and Charlotte's Web Stocks All Just Went Up in Smoke

·3 min read
Why Canopy Growth, Aurora Cannabis, and Charlotte's Web Stocks All Just Went Up in Smoke
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There's little good news to report in the marijuana industry today, as shares of Charlotte's Web Holdings (OTC: CWBHF) plunged 9.2% as of 12:20 p.m. EDT, and shares of Canopy Growth (NASDAQ: CGC) and Aurora Cannabis (NYSE: ACB) follow them down 2.3% and 2.6%, respectively. Street analysts were also looking for a loss of $0.05 per diluted share for the quarter, but it turns out Charlotte's Web lost twice that: $0.10 per share. On the plus side, Charlotte's Web's cash burn rate declined significantly year over year, down 43% to just $9.4 million.