CTST - Marijuana Stock CEO Turnover Is Maddeningly High
Last year was supposed to be when the cannabis industry demonstrated to Wall Street that it was deserving of its lofty premium and could become profitable on a recurring basis. Of course, hindsight being what it is, we know that didn't happen. Instead, marijuana stocks actually logged their worst year to date.
To our north, Canadian pot companies were clobbered by regulatory issues that led to supply shortages in some provinces and rampant oversupply/bottlenecks in others. Meanwhile, in the U.S., high tax rates in a number of core cannabis markets have made it difficult for legal growers to compete with illicit producers. Ultimately, pot stock valuations cratered, and most cannabis companies delivered disappointing operating performances in 2019.
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