GW Pharmaceuticals (NASDAQ:GWPH) ranked among the best marijuana stocks of 2016, with the biotech’s shares gaining 63% last year. Those high-flying days are gone now, though. Over the last three months, GW Pharmaceuticals stock has taken a nose-dive.
But could a rebound be just around the corner for what could be considered a blue chip among marijuana stocks? Maybe so.
Anatomy of the drop
GW Pharmaceuticals stock performed quite well through early March. Then the bottom fell out. But why?
It’s hard to pinpoint a specific turn of events that caused GW stock to begin to fall. The company made just two announcements in early March. One pertained to GW Pharmaceuticals CEO Justin Glover speaking at the Cowen and Company healthcare conference. The other related to the appointment of Scott Giacobello as new CFO and former CFO Adam George’s move