The Financial Post reports in its Saturday, May 6, edition that in 2018-19, investors were panting with excitement at the prospect of making big bucks with the legalization of cannabis in late 2018. The Post's regular columnist Peter Hodson writes that companies were quickly created, raised billions in capital and watched their share prices soar. Sales projections for weed companies were through the roof. Large foreign firms, like Constellation Brands, with billions of dollars bought into Canadian companies. Then it all popped, very quickly. First, it seemed no company could make any money. Most companies were bleeding cash. Second, demand was nowhere near predictions. It turns out that just because something becomes legal does not mean everyone is going to buy it. Third, valuations were ridiculous. Growth was great for a short period of time, but investors simply paid too much for this growth. Now, the sector is a wasteland of company carcasses. Canopy Growth, one of the early winners, was worth more than $15-billion less than two years ago. Today, it is worth less than $900-million.