SMG - These 2 Pot Stocks Are Up Big in 2023. Here's Why
2023-03-31 06:45:00 ET
The shares of most cannabis stocks, already reeling from a difficult 2022, have continued to plummet in 2023. That drop is reflected in the decline of two cannabis ETFs : The AdvisorShares Pure Cannabis ETF is down more than 18%, and the ETFMG Alternative Harvest ETF is down more than 17% to start the year.
It's hard to find cannabis stocks whose shares are up for the year, including even profitable ancillary cannabis stocks, such as cannabis real estate investment trusts ( REITs ), whose shares have fallen along with the fortunes of their tenants.
Going against that tide, Scotts Miracle-Gro (NYSE: SMG) and TerrAscend (OTC: TRSSF) are up by double digits. Scott's diversity and its plan to return to profitability has encouraged the market, while TerrAscend's tight focus on a few limited-license states is helping it responsibly increase revenue.
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These 2 Pot Stocks Are Up Big in 2023. Here's Why