The Only 2 Pot Stocks Wall Street Expects to Decline in Value
To say that things did not go as planned for marijuana stock industry in 2019 would be an accurate statement. High tax rates in select U.S. markets, and persistent supply problems throughout Canada, allowed an already resilient black market to prosper in North America. This, in turn, wound up clobbering cannabis stocks.
But according to Wall Street, things should get better. Aside from the fact that various analysts have projected annual worldwide weed sales of $50 billion to $200 billion by 2030, almost every pure-play pot stock with a market cap of at least $200 million has a higher consensus price target from Wall Street than their current share prices. That's really not a surprise given how Wall Street tends to be highly optimistic on high-growth businesses and always forward-looking.
However, what you might find surprising is that two of the most popular pot stocks in the world happen to be the only companies in the marijuana industry with lower consensus price targets than their current share price. Translation: Wall Street actually expects these pot stocks to decline in value over time.
Source Fool.com
