3 Pot Stocks to Avoid Like the Plague in September

Over the long run, legal marijuana could prove to be a big-time moneymaker for investors. After logging $10.9 billion in legal global sales in 2018, according to Arcview Market Research and BDS Analytics, the legal pot industry could see annual worldwide sales soar to anywhere between $50 billion and $200 billion in a decade's time. That's plenty of growth to get Wall Street and investors excited.

Of course, the past couple of months have been anything but exciting. The Horizons Marijuana Life Sciences ETF has shed more than a third of its value, and pretty much every major marijuana stock has face-planted. Everything from supply chain issues in Canada to resilient black markets in the U.S. are to blame for this persistent retracement in pot stocks.

While this pullback has created a buying opportunity in some cannabis stocks, others should remain cordoned off from investors. Consider the following three pot stocks as ones you'd be best off avoiding like the plague in September.

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Source Fool.com