GWPH - The Cannabis Industry Hit a Home Run With This Announcement
In just 10 days we'll be ringing in a new year and a new decade, but it may not be the happiest of times for marijuana stock investors. That's because, to put things plainly, the North American cannabis industry has had an awful year.
When 2019 began, it looked as if pot stocks would pick up right where they'd left off the previous couple of years and significantly outperform the broader market. We did, in fact, see more than a dozen cannabis stocks gain in excess of 70% just in the first quarter.
However, the performance of cannabis stocks since the end of March has been abysmal, with many losing a double-digit percentage and underperforming the S&P 500 by 40 or more percentage points for the year. Pretty much everything that could go wrong has gone wrong for the North American pot industry.