Canadian pot stocks have risen as high as kites in the wake of the legalisation of recreational cannabis in 2018, and the performance of Village Farms (Toronto: VFF) has been among the most impressive: the shares have quintupled this year.
Pure Sunfarms, its joint venture with Emerald Health, another pot company, has just been given permission by the government to expand its production area by a fifth to one million cubic feet. A deal with Canna Farms, meanwhile, will allow Village Farms to sell its pot on an online marketplace for medical marijuana.
Be glad you didn’t buy…
Shares in Indivior (LSE: INDV) plummeted by 70% last week after the US Department of Justice charged the drugmaker with using an “illicit nationwide scheme” to boost sales of its blockbuster drug Suboxone Film, a key treatment for opioid addiction. It allegedly deceived healthcare providers by persuading them that the drug was safer and less prone to abuse than other opioid addiction treatments. The indictment is seeking $3bn of damages, an amount that could wipe the firm out; it has set aside just $438m to deal with the fallout of the six-year probe.