The Pot Industry Is Scrambling for Cash

Heard on the Street: The pot industry is scrambling for cash as companies’ equity values slump

The North American Marijuana Index, which tracks the leading cannabis stocks in the U.S. and Canada, has fallen more than 52% in the past 12 months.

Valuations have come down as high prices for legal products have made it hard to shift demand out of the black market in states like California. Meanwhile, governance problems at listed companies such...

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