Israel's Top Cannabis Companies Lost a Combined $307 Million on TASE
Over the last three months, the combined market capitalization of Israel's eight leading medical cannabis companies dropped to $475 million
Tzally Greenberg | 15:01 20.05.2019
Israel's eight leading public medical cannabis companies lost a combined NIS 1.1 billion ($307 million) of their market capitalization on the Tel Aviv Stock Exchange over the past three months, bringing their combined market cap to NIS 1.7 billion ($475 million).
For daily updates, subscribe to our newsletter by clicking here.The largest slide was of InterCure Ltd., chaired by former Israeli Prime Minister Ehud Barak, which lost 34.3% of its market cap, NIS 438.4 million ($122.6 million), after peaking at NIS 1.27 billion ($355 million) in March. The company's market cap at Sunday's trading close was NIS 837.6 million ($234.3 million). Barak, who has company options worth 3.68%, lost NIS 16.3 million ($4.56 million) on paper.