Cannabis stocks have harsh let down in 2019

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FILE – In this Aug. 15, 2019, file photo, marijuana grows at an indoor cannabis farm in Gardena, Calif. With nine research grants announced Thursday, Sept. 19, 2019, the U.S. government will spend $3 million to find out if marijuana can relieve pain, but none of the money will be used to study the part of the plant that gets people high. (AP Photo/Richard Vogel, File)

LOS ANGELES (AP) – Cannabis stocks have had a harsh let down this year as investors’ enthusiasm about the prospects for strong growth and blockbuster company mergers dimmed.

Shares in some of the biggest marijuana companies, including Tilary, MedMen and Aurora Cannabis, are down more than 50% so far. The S&P is up 25.5% by comparison.

Experts say approval of one or two pending mergers could boost investor sentiment.

While industry analysts project the market for marijuana products will continue to grow over the next decade, cannabis companies still face hurdles with government regulations.

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