Pot Short Profits Go up in Smoke

After a good 2018, cannabis short sellers are losing out.

(Jason Alden/Bloomberg)

(Jason Alden/Bloomberg)

Pot stocks were some of the biggest winners last year for short sellers, if the Christmas card from California-based Kingsford Capital Management is to be believed.

Yet in the New Year, many of those profits have gone up in smoke. The ten major short bets in the cannabis sector — which make up over 95 percent of all shorts in the sector — have had a big comeback in 2019 so far, costing short sellers about $1 billion as of January 18, said Ihor Dusaniwsky, managing director of...

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