The cannabis business is not for the faint hearted. Money floods out of the industry just as quickly as it appears. In the last nine years, the Global Cannabis Stock index has at least tripled in value three times, and three times it has collapsed back to where it started. Over three months in 2014, it rose more than 900 per cent, only to drop 97 per cent in the following three years. Investors are attracted by the idea of a brand new industry, potentially even bigger than alcohol. In a recent note, Jefferies investment bank called cannabis a “generational…

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