The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.
The euphoria that spearheaded the cannabis boom throughout 2017 and 2018 was extinguished almost as quickly as it erupted.
As more U.S. states and Canada legalized recreational and medical cannabis use, the stock prices of early cannabis contenders like Aurora Cannabis Inc. (NASDAQ: ACB) and Tilray Inc. (NASDAQ: TLRY) breached returns of 2,000% and 1,400% compared to their initial public offering (IPO) closes.
Smaller entrants were not immune to the cannabis craze. Livewire Ergogenics (OTC: LVVV), for example, realized a gain of 300% at the height of the 2018 frenzy. As a company focused on acquiring and managing real estate properties in the California cannabis market, Livewire operates in the first state to legalize marijuana for medical use.
The company’s mission to produce high-quality, organically grown cannabis products and create the Estrella Weedery brand was put to the test when the pace of legislative change failed to meet the enthusiastic outpouring of …