2 U.S. Pot Stocks You Should Buy, According to Wall Street
Last year was supposed to be marijuana's true moment in the sun, with the industry proving to Wall Street and investors that it could translate strong sales growth in recurring profits. Unfortunately, things didn't go anywhere near as planned.
In Canada, supply issues have adversely impacted the weed industry since day one of adult-use sales on Oct. 17, 2018. These problems have been perpetuated by regulatory agency Health Canada delaying the launch of derivative products and struggling to approve cultivation and sales licensing application in a timely manner. We've also witnessed Ontario, Canada's most-populous province, seriously slow-step the rollout of physical dispensaries. Only 24 stores were open on the one-year anniversary of recreational weed sales, leading to a supply bottleneck and a still-thriving black market.
Meanwhile, high tax rates and Swiss cheese-like approvals that allow jurisdictions the right to deny cannabis retailers a presence have made life difficult for U.S. pot stocks. High taxes on marijuana products have especially problematic in California, where legal sales have been virtually stagnant for two years.
Source Fool.com
