If you think the broad-based stock market is on fire, then you obviously haven’t been paying close enough attention to the legal cannabis industry. This year alone, marijuana stocks have run circles around the SP 500 in terms of total return, and marijuana’s “Big Three” — Canopy Growth, Aurora Cannabis, and Cronos Group — have all delivered huge quadruple-digit-percentage gains since the beginning of 2016.
Wall Street is rightly skeptical about marijuana stocks
And yet despite this optimism and the expectation from Wall Street that worldwide sales of weed could hit between $50 billion and $75 billion by the end of the next decade, Wall Street remains notably hesitant on pot stocks.
Even though analysts have bestowed a number of buy- and hold-equivalent ratings on major marijuana stocks, upgrades have been especially few and far between. Back in August 2018, Canaccord Genuity moved Cronos Group