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Cannabis Watch: Cannabis stocks lower after Green Organic Dutchman’s earnings disappoint

Cannabis stocks moved lower Wednesday, as investors scrutinized earnings from Green Organic Dutchman Holdings Ltd. and awaited a U.S. congressional committee vote next week on protecting banks that serve the sector.

Korey Bauer, Portfolio Manager of the Cannabis Growth Fund CANNX, +0.77% a mutual fund recently launched by Foothill Capital Management, said the market is likely taking a breather after a strong run-up.

“We’re up more than 50% for the year, so it’s not a surprise to see the market take a break,” he said.

Earnings from Green Organic and from Tilray earlier this week are not showing anything that has caught anyone off guard, but investors are looking to the future, he said.

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