CRON - 3 Awful Stock Returns That Highlight the Cannabis Industry's Struggles Since 2018
2023-06-01 05:59:00 ET
Cannabis stocks have been terrible investments in recent years, and that's putting it mildly. Canadian pot stocks were hot leading up to Canada's legalization in 2018. But since then, by and large, this has been a horrible industry to invest in. The odds are if you've been holding on to pot stocks for several years, you're staring at some pretty big losses.
Three particularly awful stocks highlight just how bad the industry has performed over the past five years.
Cannabis producer Cronos Group (NASDAQ: CRON) was and still remains a pot stock that trades at an inflated valuation. At more than 7 times revenue, investors are paying a steep multiple for the company when you consider it isn't hard to find marijuana stocks trading at just 1 times revenue, or even lower.
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3 Awful Stock Returns That Highlight the Cannabis Industry's Struggles Since 2018