IIPR - 3 Pot Stocks That Topped Wall Street's Earnings Expectations
In case you missed it, last week was the earnings free-for-all in the cannabis industry that Wall Street and investors had patiently waited for. Unfortunately, things did not go as planned.
Although it was a well-known fact that Canadian pot stocks have been hit hard by supply issues, and U.S. cannabis stocks have struggled with high tax rates and a persistent black market, no one was prepared for just how poor marijuana earnings reports were in the most recent quarter. Each of the big four brutally underwhelmed Wall Street with their latest operating results, and investors once again took it upon themselves to pummel marijuana stocks even further. Since the end of the first quarter, the Horizons Marijuana Life Sciences ETF, the first cannabis-focused exchange-traded fund, has lost 57% of its value.
And yet, three cannabis stocks managed to buck this trend and actually topped Wall Street's earnings expectations in their most recent quarter.