4 Pot Stocks Expected to Be Profitable in 2020, Despite COVID-19

For a number of years, marijuana stocks were the hottest investment on Wall Street. Investors could seemingly throw a dart at a list of publicly traded pot stocks and come out a winner. But that's not the case any longer.

Over the past 14 months, cannabis stocks have been mired in a fairly precipitous downtrend that's been brought on by regulatory-based supply concerns in Canada, high tax rates on legal product in the U.S., and financing worries throughout North America. In many instances, we've seen pot stock valuations fall by 50% or more from where companies ended the first quarter of 2019.

To add to this misery, the coronavirus disease 2019 (COVID-19) pandemic has complicated matters for the industry. The shutdown of nonessential businesses in certain states and provinces has forced retailers to adopt a delivery-only or curbside-pickup model. In other words, it's just piling on the challenges that marijuana stocks are facing.

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Source Fool.com