This Popular Pot Stock Was Just Upgraded, but It's Far From a Buy

When the year began, expectations for the cannabis industry were off the charts -- and the performance of pot stocks during the first quarter confirmed it. The Horizons Marijuana Life Sciences ETF, the first cannabis-focused exchange-traded fund, galloped higher by more than 50% in the first quarter, with over a dozen popular cannabis stocks gaining in excess of 70%. With Canada having legalized recreational marijuana in October 2018 and the U.S. seemingly adding new legalized states each year, the sky looked to be the limit.

Little did investors know that the "sky" had a low-hanging glass ceiling.

Image source: Getty Images.

Source Fool.com