3 marijuana stocks to avoid like the plague in November

3 marijuana stocks to avoid like the plague in November

Over the next decade, investors would struggle to find a more attractive growth opportunity than legal marijuana. This is an industry that has the potential to see sales grow fivefold to 18-fold by 2030 from the $10.9 billion in worldwide sales recorded in 2018. But it’s also an industry that has a lot of growing up to do. Between supply issues in Canada, high tax rates in select U.S. states, and a persistent black market throughout North America, pot stocks have gone up in smoke in recent months. While some of these cannabis stocks may look like genuine bargains, others should still be avoided for the immediate future. Here are three marijuana stocks that are best left on the shelf in November. 1. HEXO Corp. Quebec-based cannabis grower HEXO (NYSE:HEXO) had an awful October, and November isn’t shaping up to be any better. For those of you who may not be following HEXO closely, the company’s share price imploded following an update to its fourth-quarter operating results and fiscal 2020 outlook. Heading into the quarter, HEXO had previously been forecasting a rough doubling in sequential quarterly revenue, as well as 400 million Canadian dollars in 2020 sales. The update completely…

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