My 2 Top Marijuana Stock Picks for 2022
Marijuana stocks flat-out floundered in 2021. Shares of almost every major multistate operator (MSO) and Canadian licensed producer (LP) took a haircut in excess of 30% last year. In fact, a fair number of top cannabis operators lost well over half of their value in 2021. The key overhang for both MSOs and Canadian LPs alike is the slow pace of marijuana legalization at the federal level in the United States.
Even though President Biden's campaign promised major cannabis reforms, his administration maintained silence on this hot-button issue during the whole of 2021. Making matters worse, the top echelon of Canadian licensed producers all badly missed their own internal financial targets throughout 2021, thanks to stiff competition, changing consumer preferences, lower profit margins, the lack of development in key foreign markets, and poor execution.
Image source: Getty Images.
Source Fool.com
