5 Cannabis Stocks Cutting Their 2020 Production
For years, marijuana stocks have taken Wall Street by storm, even though cannabis has long been an illicit drug. The ongoing legalization of marijuana throughout various U.S. states and Canada is expected to help yield anywhere from $50 billion to $200 billion in worldwide weed sales per year by 2030, if Wall Street's forecasts prove accurate. These projections have been responsible for fueling pot stock valuations higher since 2016.
However, 2019 has been a wake-up call for cannabis investors. Similar to all other next-big-thing investments over the past quarter of a century, marijuana's bubble has burst. All fast-growing industries eventually run into "growth hiccups" and need time to mature. For the pot industry, this was the reality check.
Supply issues remain persistent throughout most of Canada this year and are expected to extend well into 2020, so a number of major producers have chosen to reduce their cannabis output. Here are five cannabis stocks that won't come close to hitting their peak production (as once advertised) in 2020.
Source Fool.com
