The 10 major shorts in the Cannabis sector, which make up over 95% of all shorts in the sector, were down $28 million in mark-to-market losses today, bringing year-to-date losses to $1.02 billion.
CannabisCanopy GrowthEquitiesS3 ResearchSectorsTilray
S3 Analytics: Profitable December for Cannabis Short Sellers
The mergers and acquisition activity in the Cannabis Sector continued today with Green Growth Brands Ltd. offering $2.1 billion in a hostile takeover of Aphria Inc (APHA). This follows Altria Inc’s announced $1.8 billion investment in Cronos Group (CRON); Constellation Brands purchase of 5.5% of Canopy Growth Corp (CGC); Molson Coors Brewing Co’s joint venture with HEXO Corp (HEXO); and Anheiser-Busch Inbev’s research partnership with Tilray Inc (TJRY).