Aurora Cannabis: A Trio of Writedowns Likely Awaits
The past 12-plus months have not been kind to marijuana stock investors. Following many years of outperformance and a first quarter (of 2019) that saw more than a dozen popular pot stocks gain at least 70%, cannabis stocks have been stuck in a perpetual downtrend ever since. In fact, most pot stocks have lost anywhere from 50% to 95% of their value since the beginning of April 2019.
This weakness can be blamed on exorbitant tax rates in the U.S. that have made it difficult for licensed producers to compete with illicit growers, and regulatory issues in Canada that have challenged the rollout of dried cannabis and derivative products.
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Source Fool.com
