Why Shares of Aurora Cannabis, OrganiGram, and Charlotte's Web All Declined TodayPosted by On

What happened

Marijuana stocks dropped in midday trading Wednesday. As of noon EDT, shares of Aurora Cannabis (NYSE:ACB) were trading 4% lower, OrganiGram Holdings (NASDAQ:OGI) was down 4.3%, and Charlotte’s Web (OTC:CWBHF) was off 4%. And Charlotte’s Web may be to blame for it all.

Wilted marijuana plants

Weed stocks were wilting today. Image source: Getty Images.

So what

In a veritable tic-tac-toe of bad news, three analysts in a row have cut their price targets on Charlotte’s Web, a producer of hemp-derived cannabidiol (CBD) wellness products. There are few details on the reasons for the cuts in price targets. But ratings-watcher StreetInsider.com confirms that since late Tuesday afternoon, no fewer than three separate name-brand analysts — Cantor Fitzgerald, Roth Capital Partners, and Piper Sandler (NYSE: PIPR) –…

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