Article content

The legalization of cannabis in Canada was supposed to be a catalyst — the most powerful one yet, investors and analysts alike thought — that would launch companies in the young but potent industry to new heights. Instead, nearly one year later, it has been a nightmare.

Since recreational cannabis became legal on Oct. 17, 2018, the shares of what were then the 10 largest Canadian cannabis producers by market capitalization have been bludgeoned, yielding an average negative return of more than 57 per cent for investors.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Feeling burned: The first year of legal cannabis has been a complete disaster for investors Back to video

Tilray Inc. alone has lost more than $14 billion in market cap, and Aurora Cannabis Inc. has shed $6.8 billion. Six of the Top 10 have lost at least half their value, with scandal-plagued CannTrust Holdings Inc. suffering such resounding losses that it no longer appears in the list. Of the 10, only Cronos Group Inc.’s market cap has grown over the past 12 months, though its share price has declined, like those of all the others on the list.