This Marijuana Stock Is On an 8-Day Losing Streak -- Is It Time to Buy?
Over the trailing year, there's arguably been no better-performing industry than marijuana and marijuana stocks. A majority of pot stocks have moved significantly higher over the past year, with a quick glance back in June showing that the average marijuana stock was up by better than 300% over the trailing year at that time.
The most fundamentally sound reason for this bullishness derives from the growth in legal weed sales. ArcView, which is one of the leading cannabis research firms, found that legal weed sales grew in North America by 34% in 2016 to $6.9 billion. Moving forward, it sees a compound annual growth rate of 26% through 2021, which should lead to a nearly $22 billion market. It's certainly not out of the question that this could happen, either, with Mexico legalizing medical cannabis in June, Canada currently debating the legalization of recreational cannabis by July 2018, and more and more states legalizing weed in some form within the United States.
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Source: Fool.com
