In business, a year can make a huge difference. At this time last year, pot stocks were untouchable as they were flying high, and most of the brand-name companies were expecting recurring profitability by the time 2019 comes to an end, but the reality of the situation was the opposite of their expectations. Some of the states in the U.S. have imposed high tax rates on marijuana sales, persistent supply challenges in Canada and the ever-growing marijuana illicit market posed a significant challenge to the legal marijuana industry in 2019 and these challenges eventually managed to push a several of the popular marijuana stocks to two-year lows.
However, hope that pot stocks will bounce back is not lost because last week, Statistics Canada issued its monthly retail trade sales report for the month of November which showed that marijuana sales hit a new all-time high, something which was unexpected since the pot industry in Canada is still facing supply and illicit market challenges. In the month of…
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