The 3 Scariest Things Cannabis Stock OrganiGram Had to Say in Its Fourth-Quarter Update
At this time last year, marijuana was expected to be one of the fastest-growing industries on the planet. Canada had just opened its doors to legalized recreational sales on Oct. 17, 2018, more and more U.S. states were given the green light for medical or recreational weed, and Canada looked to be on track to have derivative pot products (e.g., edibles, vapes, and infused beverages) on dispensary shelves by no later than October 2019.
However, the past year hasn't gone anything like the initial forecasts. Supply issues have wreaked havoc on the Canadian cannabis market, while high tax rates have subdued growth in select U.S. states. Seemingly one brand-name pot stock after another has cautioned that its sales or profit expectations wouldn't be up to snuff in recent weeks, and Monday, Nov. 11, marked OrganiGram Holdings' (NASDAQ: OGI) turn.
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Source Fool.com
