Canadian cannabis companies are whipping around after report says workers may face lifetime travel ban to US (TLRY, CGC, CRON) – Finance

  • On Thursday, it is noted that workers in the Canadian cannabis industry may face a lifetime ban on travel to the United States.
  • Canadian cannabis companies' shares fell to 15% on news before they canceled their losses.
  • Estimates related to balloons, forced these companies in recent years to undergo more analysis.
  • Look Tilray, Growth of the dome, and Kronos trading in real time.

Canadian cannabis companies are taking off on Friday morning, packing up to 15% before taking their losses, after a report stating that workers may face a lifetime ban on travel to the United States.

Policy Report published after the markets closed on Thursday, referring to a senior official in charge of cross-border operations in the US, said that any Canadian working in the marijuana industry will not be allowed to enter the US. "If you work in the industry, this is the basis for inadmissibility," said Politiko Todd Owen, the commissioner of the executive assistant of the Office for Operations in the US Field Operations and the US Border Service.

Look at the scoreboard from 2:35 pm. ET:

In recent months, Canada's marijuana industry has conducted an assessment of balloons. For example, Tilray demonstrated that the rise in stock prices rose by more than 600%, as it was unveiled in July.

The huge growth in the industry aroused interest among institutional and retail investors and led to investment from the rival industry of alcoholic beverages. Back in August, Contellation Brands, the company behind the Corona beer and Svedka vodka, announced that it was invests another $ 4 billion in growth Canopy, which increased its share to 38%.

Recent interest in space has attracted the attention of the US Securities and Exchange Commission. Just last week, the SEC warned investors to follow the promises of guaranteed returns, unregistered sellers or unsolicited offers in marijuana names.

"If you are thinking about investing in a marijuana company, you should beware of the risks associated with investment fraud and market manipulation, – said the SEC.

"Scammers may try to use media coverage of marijuana legalization to encourage investment fraud."



(Insider markets)

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