A year ago, marijuana stocks could do no wrong. Valuations for nearly all pot stocks were soaring on the expectation that the global cannabis industry would grow by a strong double-digit percentage for years to come, as well as the fact that Canada was becoming the first industrialized country in the world to legalize recreational cannabis.
But what a difference a year makes.
Over the trailing year, pretty much every brand-name pot stock has lost 50%, 60%, or even more of their value -- and there's a veritable laundry list of factors being blamed for this precipitous decline.