3 Marijuana Stocks Wall Street Expects to Decline
If you think the stock market has been taken on a wild ride over the past four months, then you haven't been keeping an eye on the cannabis industry.
Prior to April 2019, marijuana stocks were practically unstoppable. The vast majority were up by a triple-digit or quadruple-digit percentage over the course of 12 or 24 months, and sales projections were soaring. Considering that tens of billions of dollars is sold annually in the black market, it seemed logical to Wall Street and investors that legal cannabis channels would see a rapid uptick in sales. But this hasn't been the case.
Over the past 14-plus months, marijuana stocks have been beaten to a pulp, with many losing anywhere from 50% to 90% of their value. Supply issues to our north, high tax rates in the U.S., and financing concerns have weighed on virtually all North American pot stocks. As a result Wall Street's expectations for the industry have come way down.
Source Fool.com
