The Globe and Mail reports in its Monday, Nov. 25, edition that the average cannabis stock is now down by about 60 per cent over the past eight months, wiping out nearly $60-billion in market capitalization from a group of 90 Canadian and U.S. stocks. The Globe's Tim Shufelt writes that there were ample warning signs the cannabis space was wildly overheated. The rare opportunity, however, to get in early on the establishment of a brand new legal industry proved irresistible for many mom-and-pop investors. Every asset bubble starts with a compelling story. With the legalization of cannabis in Canada, the creation of a multibillion-dollar consumer sector captured the imagination of the masses, said Mark Kamstra, a York University finance professor who studies asset bubbles. "You get people telling stories to each other and there's a fear of getting left behind," he said. Quick money made in the early stages of a bubble reinforces the exuberance. From most of the stretch between 2016 and 2018, it was difficult to not make money in cannabis stocks. At its peak in April, Canopy Growth hit a market value of $24-billion. Rookie investors lured in by runaway gains got fooled into thinking investing is easy.