HEXO - This $383 Million Marijuana Fund Has 69% of Its Money in Just 8 Pot Stocks
To say that marijuana stocks have been volatile would be a mild understatement. For years, pot stocks were practically unstoppable, with the multiyear run leading to numerous triple- and quadruple-digit gainers. But since the end of the first quarter, most cannabis stocks have shed 50% or more of their value.
As is commonplace with next big thing investments, the North American cannabis industry is contending with its version of growing pains. Supply issues in our neighbor to the north, along with high tax rates in prominent U.S. states, have combined to disappoint investors. Yet the long-term outlook for the marijuana industry remains bullish, with Wall Street forecasting a fivefold to 18-fold increase in worldwide sales over the next decade.
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