GW Pharmaceuticals Plc ADS (GWPH)

[aparatchik]

Yesterday's drop, coming after fair to middling results at the presentation in NYC, leads me to conclude the spotlight has moved on from GWPH, and from pot stocks in general. 6 months ago, similar reports would have boosted values incongruously. Now that the first major legalization battles are over and done with the only big momentum triggers I see for GW are federal-level reclassification (not in the company's control) and big hits in the FDA approval process for pipelined candidates (partially in the company's control). The honeymoon is over, it's time to deliver real business results.