3 Marijuana Stocks Wall Street Expects to Triple in 2020
The stage appeared to be set for the cannabis industry to thrive in 2019. Canada had legalized recreational marijuana and was less than a year away from bringing high-margin derivative products to market, while a number of U.S. states (e.g., New York and New Jersey) looked to be close to legalizing adult-use weed. This was supposed to be the year that the green rush "delivered the green" -- but it wasn't meant to be.
Instead, a flurry of problems have plagued the North American cannabis industry. In Canada, regulatory issues have made it difficult for legal weed to reach consumers. Meanwhile, in the U.S., high tax rates have made competing with low-cost black market cannabis almost impossible. The result has been a strong black market and hefty losses for most pot stocks.
Despite this, Wall Street remains predominantly optimistic about the prospects for cannabis stocks over the next year. The one-year consensus price targets for pretty much every pot stock is currently higher than where they're currently valued, suggesting that Wall Street expects some green from the marijuana industry in 2020. However, the following three marijuana stocks have some of the highest suggested upside in the industry.
Source Fool.com
