Pot luck: Investing in Israeli medical cannabis stocks is guesswork

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There are few superlatives that fail to describe the Tel Aviv Stock Exchange’s medical-marijuana mania. In the last few months, and especially after the government approved exports three weeks ago, investors couldn’t get enough of the shares. Day after day they traded heavily and their market caps grew by the hundreds and even thousands of percent. Virtually nothing seemed to stop them.

That was until last week. Without news of any developments that threatened to undermine their potential for capitalizing on exports, cannabis share prices began to teeter and

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