What Bear Market? These Pot Stocks Have Rallied During the Coronavirus Pandemic

For more than two months, the coronavirus disease 2019 (COVID-19) pandemic has wreaked havoc on the U.S. economy and stock market. This illness abruptly ended the longest economic expansion in U.S. history and shot the unemployment rate up to nearly 15% (the highest it's been in almost 90 years). It also sent the stock market into a dizzying tailspin, with the S&P 500 taking just 17 trading days to fall into bear market territory.

As a result, most sectors and industries have felt the negative effects of COVID-19 -- and that includes marijuana. Despite being one of the fastest growing industries before the coronavirus pandemic, the North American pot industry has struggled with vape pen supply issues (most vape pens are sourced from China), a reduction in tourism to key markets (e.g., Las Vegas), and the cancellation of trade shows. These trade shows were often a breeding ground for dealmaking and showing off new, high-margin products.

But amid this pandemic, three cannabis stocks have actually managed to push higher. Since the S&P 500 peaked on Feb. 19, and through May 12, the following pot stocks have their shareholders wondering, "What bear market?"

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Source Fool.com