GWPH - The First Pot Stock to Hit $1 Billion in Annual Sales Will Be...?
If you thought the stock market has been on a wild ride in 2020, pan out a bit and take a gander at the volatility that marijuana stock investors have contended with over the past couple of years. Through March 2019, you could practically have thrown a dart at a list of cannabis stocks and come out a winner. However, over the past 15 months, most pot stocks have lost half or more of their value.
As is the case with all next big thing investments, the industry needs time to mature. We've witnessed everything from regulatory-based supply and tax issues to financing and overcapacity wreaking havoc on North American pot stocks. The good news, though, is that there is light (and plenty of green) at the end of the tunnel for cannabis stocks.
Perhaps what'll truly vindicate marijuana as a viable investment opportunity is a publicly traded pot stock generating $1 billion in annual sales. While our neighbors to the north have their work cut out to reach this psychological sales plateau, there are three pot stocks focused on the U.S. market that do have the potential to reach $1 billion in annual sales within the next couple of years. The question is, which cannabis stock gets there first?