Ouch! This Marijuana Stock Has Lost 20% of Its Value in Just 2 Weeks
In case you've been living under a rock for the past year, marijuana stocks are among the top-performing industries. Over the trailing year, the average return from the 14 largest marijuana stocks by market cap is in excess of 100%.
Why do investors suddenly have an insatiable urge to own cannabis stocks? It all starts with the sales figures behind the rapidly growing legal pot industry. According to cannabis research firm ArcView, legal sales in North America climbed 34% to $6.9 billion in 2016, and they're estimated to keep growing at an average annual rate of 26% through 2021. This is due to the expectation of more U.S. states legalizing pot, as well as Canada and Mexico expanding the legality of the substance. Finding an industry with a 26% compound annual growth rate for five years is practically unheard of.
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Source: Fool.com
