MedMen's CEO Resigned, and These Pot Stock CEOs Could Be Next
Marijuana stock investors were supposed to clean up in 2019. Canada had recently legalized adult-use cannabis sales, high-margin derivatives were months away from hitting dispensary shelves, and state-level legalization momentum appeared strong in the United States. Yet when the year ended, pot stocks were a disappointment across the board.
To our north, regulatory issues have stymied the ability of growers to get product in front of customers. Health Canada delayed the launch of derivatives until mid-December, while Ontario, the nation's largest province by population, had only 24 open dispensaries as of the one-year anniversary of adult-use sales beginning. Meanwhile, in the U.S., a combination of high tax rates and supply problems has allowed the black market to thrive.
After such a miserable year, the expectation now is that pot stocks will rebound as they mature. But for one well-known cannabis stock, this hasn't been the case through the first month of 2020.
Source Fool.com
