Canopy Growth disappointed investors with its quarterly earnings. In fact, investors were so "disappointed" by this one report they sent the entire cannabis sector tumbling.
That's the thing: Canopy's results mean essentially nothing at all for American marijuana companies – nothing for any company outside Canada, in fact.
It's no different than if, say, California-based PG&E shares tanked because Consolidated Edison had a power failure in New York City.
But we're still in the early stages of legal cannabis' explosive growth potential.
Canopy led the sector down because investors are expecting results yesterday. And the results can be longer in coming than short-sighted investors might like.