This Cannabis Stock Has Come Full Circle After 17 Months
The year began promisingly for the marijuana industry, with more than a dozen cannabis stocks galloping higher by at least 70% during the first quarter, and the Horizons Marijuana Life Sciences ETF, the first cannabis-focused exchange-traded fund, gaining 50%. With Canada having commenced the sale of recreational weed in October 2018, and derivative pot products presumed to hit dispensary shelves by no later than October 2019, the gauntlet was set for pot stocks to thrive.
But as we near the close of the year, the reality is that these marijuana stock gains have gone up in smoke... and then some. At one point, around $40 billion in market cap value was lost between the end of March and early December, with a vast majority of cannabis stock shedding a double-digit percentage.
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Source Fool.com
