After a tumultuous 2022, marijuana stocks probably aren't high up on many investors' "must-own" lists heading into the new year. The nascent industry has been going through a broad array of growing pains, which has cost early shareholders dearly. 

For instance, the average net return on capital among the 10 largest publicly traded cannabis companies by market capitalization was negative 64% in 2022. The S&P 500, by contrast, yielded a far more modest loss of 18% for investors last year.

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Source Fool.com