The Pot Stock Bubble Has Burst. Here’s Why

(Bloomberg) -- Wall Street’s exuberance over legal weed has quickly curdled into sober reality.In a matter of months, white-hot cannabis companies have flamed out in spectacular fashion. Many have lost two-thirds or more of their value.Widespread legalization has been thwarted. Bank financing has dried up. Deep-pocketed institutional investors remain on the sidelines and old-fashioned black-market dealers still provide stiff competition.The pain deepened on Thursday, when Ontario-based Can