3 Cannabis Stocks to Avoid Like the Plague in June
For years, marijuana stocks were viewed by investors as the greatest thing since sliced bread. With the legal pot industry generating $10.9 billion in worldwide sales in 2018, and Wall Street suggesting that annual global sales could hit $50 billion to $200 billion by 2030, investors figured they had a surefire winner on their hands.
But over the past 14 months, cannabis stocks have been an utter disaster. The reality of the challenges they're facing in Canada and the U.S. have sunk in with investors, and most pot stocks have seen their share price retrace anywhere from 50% to 95%.
The good news is that there will be long-term winners in this industry. With tens of billions of dollars being sold in the black market each year, and new states/countries passing laws to legalize cannabis, it's only logical to expect consumers to steadily move their purchases to legal channels over time.
Source Fool.com
