The global marijuana market is worth $150 billion, and industry watchers think widespread legalization could result in legal marijuana sales that top $200 billion worldwide in 15 years.
The potential to profit from pot is significant, but investors’ optimism has caused valuations to rocket higher. Although many marijuana stocks are trading near their 52-week highs, Aphria (NYSE:APHA), KushCo Holdings (NASDAQOTH:KSHB), and CannTrust Holdings (NYSE:CTST) have recently seen their share prices stumble. Should you buy these beaten-up pot stocks?
A rebound in sight?
The third largest Canadian cannabis company by sales, Aphria saw its shares falling off many investors’ radars following allegations from short sellers that insider’s inflated the value of acquisitions in Latin America. Aphria responded with an internal audit that determined its acquisition prices were within a reasonable range, albeit at the high end, and word that its longtime