Cannabis stocks have shot upward, led by industry leader Canopy Growth Corp.’s gains of 60 per cent this month and 337 per cent over the past 12 months. The trigger, for the most part, was recent voting in several U.S. states legalizing marijuana and Prime Minister Justin Trudeau’s 2015 election pledge to legalize pot. But short-sellers’ bets are also skyrocketing, suggesting the run-up in stocks has gone too far too fast.
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