Is Popular Pot Stock Cronos Group a Buy in 2020?
New year, clean slate: That's the thesis for most marijuana stock investors following the drubbing they took in 2019.
Last year was expected to represent a major leap forward for cannabis stocks, with Canada allowing derivatives to reach dispensary shelves, and a number of U.S. states forecast to legalize adult-use weed. But very little of what was expected at the beginning of the year went according to plan. When the curtain closed on 2019, most marijuana stocks wound up losing money, and Canadian weed sales fell significantly short of expectations.
The question is, does the substantive decline in pot stocks over the past nine months represent an intriguing buying opportunity? Investors are probably asking that right now of pot stock Cronos Group (NASDAQ: CRON), which ended the year about 40% lower, and nearly 75% below its closing high, which was set in early March.
Source Fool.com
