The 13 Largest Marijuana Stocks in the World
As recently as April, 17 pure-play pot stocks -- i.e., not the Scotts Miracle-Gros and Altrias of the world that rely on cannabis as a small percentage of their sales -- were lugging around a market cap of at least $1 billion. This was the result of robust growth projections for the marijuana industry that forecast anywhere from $50 billion to $200 billion in annual worldwide sales in a decade's time.
But a lot has changed in just a few months. Supply challenges in Canada have remained persistent, and will take numerous quarters to solve. Meanwhile, high tax rates on legal cannabis in the U.S. have fueled the black market and dragged down sales in leading markets, such as California. The result has been weaker stock performances and shrinking valuations.
As of the closing bell this past Monday, just 13 pot stocks still possessed a billion-dollar valuation, with 7 of these 13 just $570 million, or less, away from dropping out of the billion-dollar club. In descending order by market, here are the largest marijuana stocks in the world.
Quelle Fool.com
