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You Should Sell This Popular Pot Stock, According to One Wall Street Firm


Although there are a lot of industries expected to deliver big-time growth over the next decade, cannabis might be the kingpin of them all. The industry generated nearly $11 billion in global marijuana sales in 2018, and various Wall Street forecasts are calling for between $50 billion and $200 billion in full-year sales by 2029/2030. No matter how you cut it, the worldwide legal cannabis annual growth rate is expected to be in the double digits.

Much of this optimism is reflected in the ratings and price targets that Wall Street has bestowed on pot stocks. It's commonplace for the equivalent of buy and hold ratings to handily outnumber sell ratings on Wall Street, and this practice has certainly been carried over to the cannabis industry.

However, even Wall Street knows that not every company in the fast-paced pot industry can be a winner. Last week, one of the more high-profile cannabis stocks was downgraded to the equivalent of a sell.

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Quelle Fool.com

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