Cannabis Stocks
2022 has not been kind to the stock market in general and the cannabis stock market in particular. U.S. cannabis stocks suffered a 20% rout in January, tumbling more than the broader market as hopes for federal marijuana legalization in the near future continued to fade.
Cannabis specific issues in play:
*Retail revenue growth has slowed in several key US markets and turned negative in Canada.
*Cannabis stocks are fighting against a rising rate induced sector rotation out of “growth” into “value.”
*Observers have largely capitulated on hopes for federal legalization.
*California continues to look disastrous for a large swath of competitors in 2022.
At least two large Canadian cannabis companies have been notified by the Nasdaq that their shares are too cheap and no longer meet the stock exchange’s listing standards.
During the pandemic, interest in special purpose acquisition companies (SPAC) soared, as private cannabis-related businesses looked to these blank-check companies for quicker, easier access to public markets and the funding that comes with it.
But two years later, the sparkle seems to be dimming.
Episode 887 The #TalkingHedge dives into Viridian Capital Advisors report...
https://youtu.be/t0z7FiMlLsA
#CannabisBanking #CannabisInvestment #WeedStocks #PotStocks #CannabisStocks #MarijuanaStocks
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