(Article) Canaccord Genuity Canaccord had been providing Captial to the Cannabis Industry for years in exchange for shares in these companies. They are now under investigation for ties to illegal short-selling. This practice is brutal on a Company's shareprice and is likely a contributor as to the reason why Canopy Growth trades so cheap today.
Unfortunately, the actions of Canaccord likely lead others astray and resulted in those folks now facing losses due to the low price where they opted to go short at.
Canaccord Genuity says it is under investigation by regulators and may face a ‘significant penalty’ to settle https://www.theglobeandmail.com/business/article-canaccord-genuity-investigation-facing-penalty/