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CGC - 1 Reason Marijuana Stocks Could Bounce Back in 2020
Canopy Growth Corporation
2019 was rough for cannabis stocks -- and the investors who held them -- due to a number of factors.
The bubble that grew ahead of Canada's legalization of marijuana in October 2018 burst this year. Investors grew less willing to overlook the wide losses that many companies in the industry are experiencing, and an oversupply of marijuana led to falling prices. Meanwhile, there has been little progress toward legalization at the federal level in the U.S., and the industry remains highly fragmented, meaning there will likely be more losers than winners.