3 Popular Pot Stocks At or Near Their 2019 Lows That Still Aren't Worth Buying
For years, the marijuana industry has had investors seeing green. Long-term investors that purchased any of the biggest cannabis stocks at the beginning of 2016 and had the stomach to hang on through their wild ride are up by well over 1,000% today.
But the ride hasn't been much fun since April. After more than a dozen cannabis stocks logged gains of at least 70% in the first quarter, most marijuana stocks have been stuck in a four-plus-month funk. A combination of Canadian supply issues, high tax rates in select U.S. states, and persistent operating losses for most pot stocks has led to deflating marijuana stock valuations.
In some instances, this pullback could represent an intriguing buying opportunity. But for some of the biggest or most popular names in the industry, this dip still isn't an attractive entry point. Here are three cannabis stocks that are at or near their 2019 lows that should still be avoided.
Source Fool.com
