One week from today, we'll enter a new year and a new decade, which for marijuana stock investors can't come a moment too soon. Although cannabis stocks have been on fire for years, 2019 was the first reality check for investors in some time.
Following an incredible first quarter that witnessed more than a dozen pot stocks rise by at least 70%, the subsequent nine months since the end of March have been spent in a seemingly never-ending downtrend. Supply issues throughout Canada and high tax rates in select U.S. states have squashed any near-term hope of profits for pot stocks and made cannabis the proverbial lump of coal left in the stockings of those who misbehave.
But, believe it or not, a few cannabis stocks actually made Santa's nice list in 2019, and it has everything to do with their income statements. In an industry where losses abound, these pot stocks have stood out for all the right reasons.