The Only 3 Pot Stocks Whose Earnings Estimates Are Rising
If you think the stock market has been on a wild ride over the past five months, take a gander at what marijuana stock investors have gone through over the past three years.
Up until April 2019, investors could practically throw a dart at a list of publicly traded pot stocks and make money. Promises of capacity expansion and overseas dealmaking often proved more than enough to send valuations higher. In some instances, popular cannabis stocks delivered quadruple-digit percentage returns in less than two years.
But this all fell apart about 15 months ago. Regulatory-based supply issues in Canada, exorbitant tax rates on legal pot products in the U.S., and financing concerns throughout North America, are all responsible for crushing pot stock valuations. It's been one gigantic roller-coaster ride, which, for the most part, has seen earnings estimates for cannabis stocks fall considerably from where they were even three months ago.
Source Fool.com
