The marijuana industry is coming off of an incredible year in which it gained validity like never before. This legitimacy primarily comes from the legalization of recreational marijuana in Canada. Putting an end to nine decades of prohibition, the legal Canadian weed industry should be capable of $5 billion (or more) in annual added sales by the early part of the next decade.
There was also positive news in the U.S. and in various countries around the world. A handful of U.S. states legalized cannabis in some capacity, the U.S. passed the Farm Bill, legalizing hemp and hemp-based cannabidiol in the process, and previously staunch opponents of cannabis, like Thailand, passed medical pot legislation.
Unfortunately, this game-changing year didn’t translate into success for marijuana investors. A majority of big-name pot stocks ended 2018 substantially lower than they began it. How could pot stocks decline when all of the news