ACRGF - The 6 Best Marijuana Stocks in September
What a train wreck! That's the best way to describe how marijuana stocks performed during the month of September. Though historically a rough month for the stock market anyway, it was a brutal month for the high-growth cannabis industry.
How bad, you ask? The Horizons Marijuana Life Sciences ETF, which contains more than five dozen pot stocks of various weightings, dipped 13.7% for the month, which included paying out a $0.202 quarterly dividend. The first exchange-traded fund focused on cannabis has lost 45% of its value over the trailing six months, inclusive of dividend payouts.
And it gets worse. Of the 59 pure-play and ancillary marijuana stocks that Yours Truly tracks, a mere six ended the month in the green. Comparatively, 41 out of the 59 ended the month lower by a double-digit percentage, not including rounding. To put this data into a different context, 1 out of 10 pot stocks rose in the month of September, while 7 out of 10 lost between 10% and 60% of their value. That's a train wreck!