It has been a horrific year for marijuana stocks.
Back in March of this year, I dug into the sector a bit with Koyfin founder Rob and what blew me away most from the analysis he was walking me through was the industry as a whole was trading at 85x sales (minute 7). Here is Rob’s Koyfin blog post on the Cannabis industry at the time.
March was definitely the peak looking at the charts of the Marijuna ETF’s:
For those doing their homework, and so many do, the fact that 5 of 6 of the weed ETF’s launched this year buying stocks of companies trading at 85x revenues, was likely a good sign that a top was near.
I have no idea when this carnage will end.
I would say today is a better day to find some interesting weed stocks.
Rob and his team are building these dashboard for all major sectors and they will be shareable. Hit me up if there are some you would like to see.