3 Cannabis Stocks to Watch in November
Cannabis stocks as a group have had a difficult year, with most companies shedding a significant chunk of their market value. Although some investors were hoping that Canada's cannabis 2.0 legalization would help spur the market forward, the cannabis sector hasn't fulfilled those hopes. Instead, investor sentiment surrounding cannabis stocks has changed. The speculative excitement surrounding the industry in 2018 has dissipated as investors have grown more bearish about the market, at least in the short term.
At the same time, the ongoing vaping crisis has hurt cannabis sentiments as well. As the number of vaping-linked deaths continues to increase, over 50 different health and advocacy organizations have come together to pressure the Trump administration to ban vaping flavors altogether. Now with some states planning to ban vaping outright, cannabis stocks -- especially U.S. multi-state-operators -- could end up taking a financial hit if the ban spreads to more states and people become more wary of vaping.
However, with the prices of cannabis stocks reaching historic lows, many companies are selling at bargain-bin prices. Investors can find plenty of good deals in today's cannabis market, whether they are looking for underpriced stocks or smaller, high-growth producers with strong financials. Here are three cannabis stocks that investors should keep an eye out for in the month of November.
Source Fool.com