In the past year, cannabis stocks outperformed gold, Bitcoin, and the broader market. As investors buy into the frenzy, the biggest pot companies are seeing their valuations soar. And the largest among them, as tracked by Bloomberg Intelligence’s Global Cannabis Competitive Peers Index, have price-to-sales ratios in the triple digits. Canopy Growth, which is valued at $11.4 billion, currently trades at a price-to-sales ratio of 132, and Aurora Cannabis, valued at $9.2 billion, trades at 106. GW Pharmaceuticals is at 231. For comparison, Apple and Amazon.com have p-s ratios of about 4.
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