South Korea’s sovereign wealth fund Korea Investment Corp. saw stock price fall in Ontario-based marijuana maker Canopy Growth. The fund’s $18 million bets on the company lost favor in the first half of 2020. The ruling Democratic Party of Korea’s Rep. Jung Sung-ho added the investment in the pot producer is a point of contention because investing in marijuana makers is an “insensible” act given that KIC is a sovereign wealth fund that manages over $150 billion of state-owned foreign currencies. According to Jung’s estimate, the combined valuation of KIC’s stock holding more than halved.
Mmp News Author, Medical Marijuana Program Connection, 10/19/2020 06:10:35