For the past 17 months, it’s not been easy to be a marijuana stock investor. While there’s little question that cannabis can be one of the fastest growing industries this decade, every industry needs time to mature. Right now, pot stocks are navigating their way through that maturation phase — and let’s just say it hasn’t always been pretty.
To our north, Canada has blown its chance to be the adult-use legalization blueprint for the rest of the world. Meanwhile, in the U.S., high tax rates have made it difficult for licensed producers to compete against low black-market prices. And I’d be remiss if I didn’t mention the lack of traditional financing options available to marijuana stocks throughout North America.
These cannabis stocks were blazing hot in August
Yet, in spite of these adversities, certain cannabis stocks are thriving, at least based on a screen of pot stock returns in August. More specifically, the investment community witnessed 10 marijuana stocks blaze higher by at least 13% in what’s historically been a ho-hum month for Wall Street. In descending order, and rounded to the nearest whole number, these top-performers are:
- GrowGeneration (NASDAQ: GRWG): Up 89%
- Trulieve Cannabis: 41%
- Planet 13 Holdings (OTC: PLNH.F): 25%
- Jushi Holdings (OTC: JUSHF): 20%