In the late 1990s, hot tech stocks achieved massive valuations that look ludicrous today with the benefit of hindsight. Companies like eToys, WebVan, and Pets.com achieved respective market caps of $10.3bn, $10.9bn and $369m despite never exceeding cumulative net sales of $364mn, $271mn, and $34mn. Those valuations came crashing down starting in March 2000 when the bubble burst (all three subsequently filed for bankruptcy).
One of the most important and frequently misunderstood distinctions in the cannabis industry is that of hemp vs. marijuana. Semantically, hemp refers to cannabis bred for a variety of commercial items & industrial uses, including paper, clothing, biodegradable plastics and biofuel. Marijuana, on the other hand, is a slang term describing cannabis strains bred for the potent, resinous glands that grow on the flowers and leaves.