Wasatch Global Investors, through its Wasatch Micro Cap Value and Micro Cap funds, spent the last year building large stakes in several U.S.
But the two Wasatch funds exited their cannabis holdings in the first quarter, under instructions from its compliance unit, people familiar with the matter said.
Wasatch Global has $18.2 billion in assets under management, including the $1.5 billion Wasatch Micro Cap .
That federal ban means that American cannabis operations have had difficulty accessing financial services generally-available to public companies.
In the same stretch, the stock of Cresco Labs fell 18%, Green Thumb fell 20%, and TerrAscend sank 35%.
pot stocks, including $29 million of Green Thumb, $27 million of Cresco, $21 million of TerrAscend, and $7 million of Vireo Health .
In January, Wasatch was among investors that bought shares of Cresco stock in a transaction totaling $125 million.
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