The cannabis movement was virtually unstoppable last year. Canada legalized recreational marijuana. President Trump signed the Farm Bill into law, giving the green light to hemp and hemp-based cannabidiol (CBD) production. And a handful of U.S. states legalized weed in some capacity. It was a banner year for the marijuana industry — but not so much for marijuana stocks, which had an abysmal fourth quarter.
However, that’s changed in a big way to begin 2019. Through Feb. 7, the Horizons Marijuana Life Sciences ETF, which holds a basket of more than four dozen pot stocks, had risen by just shy of 50% on a year-to-date basis.
In other words, marijuana stocks are back, and in a big way.
Three pot stocks with reasonable valuations
Rapidly rising share prices, coupled with supply shortages and the ongoing capacity ramp-up throughout Canada, has led to nosebleed valuations throughout the