News Flash: Aurora Cannabis Is No Longer the Leading Pot Grower
To say that marijuana stocks have been volatile would be a bit of an understatement. Last year, more than a dozen pot stocks wound up gaining in excess of 70% during the first quarter. But the final nine months of 2019 were marked by a steep downtrend in cannabis stocks, resulting in most finishing the year far lower than where they began.
Visions of rapid sales growth and profitability quickly faded and gave way to the realities that supply is constrained in Canada, tax rates on pot are far too high in most recreationally legal U.S. states, and the black market remains resilient. This has caused a number of marijuana growers to rethink their production needs, including the most popular marijuana stock in the world, Aurora Cannabis (NYSE: ACB).
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Source Fool.com
