The scariest statistic pot stock investors will ever see
At this time last year, marijuana stocks were practically unstoppable — and for good reason. Just two weeks prior, on Oct. 17, 2018, Canada had officially become the first industrialized country to wave the green flag on recreational marijuana sales. Revenue and profit projections were lofty coming out of the gate, and with billions of dollars in annual sales being conducted in the black market, it only seemed logical that the legal market would scoop up this revenue with relative ease. But absolutely nothing since Oct. 17, 2018 can be aptly described as “easy” for the Canadian cannabis industry. Supply issues have been a nightmare for Canadian pot stocks Over the past seven months, pot stocks have been absolutely blasted. Many of the largest names in the industry, but especially Canadian marijuana stocks, have lost at least half of their value, if not more. That’s because Canada’s supply issues have no immediate remedy. To begin with, Health Canada, the regulatory agency tasked with overseeing the industry and reviewing/approving cultivation, processing, and sales licenses, has been unable to contend with a backlog of applications that surpassed 800 at the beginning of the year. While the agency’s thoroughness can be commended, it’s also…
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