POT - Why Cannabis Stocks Could Be Your Best Bear Market Investment

There’s no better time than now to locate cannabis stocks with low valuations, especially if you want a good deal. The price-to-sales (P/S) ratio on the Nasdaq is at 4.9. With that in mind, consider the following stocks Tilray Brands ( NASDAQ:TLRY ) , Cresco Labs, and Canopy Growth

Market Analysis of Cannabis Stocks

The prices of these stocks are much lower than the Nasdaq average. Furthermore, due to falling stock prices, they are far less costly per dollar of sales compared to this time last year, let alone the cannabis stock heyday of early 2021.

This implies that if you invest in cannabis, you will most likely receive more bang for your buck than if you invest in another growing business. For example, the average P/S multiple in biopharma is 5.3, making cannabis seem cheap.

Legalization is Getting Closer to Being a Reality in Key Markets.

Another compelling argument to invest in marijuana stocks during the bad market is that marijuana legalization may be on the horizon in the United States and the European Union . On October 6, the Biden Administration issued a statement declaring its intention to pardon federal marijuana possession charges. The statement also instructed the attorney general and the secretary of Health and Human Services (HHS) to investigate whether marijuana, which is now classed as a Schedule I substance like heroin, is appropriately scheduled. Suppose authorities determine that cannabis is improperly scheduled, considering the magnitude of its social and health implications. In that case, it might lead to significant advances in federal decriminalization or even full legalization, which would benefit cannabis stocks, to say the least.

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