It’s been a while since I posted a Bulls and Bud piece.
And I’m not certain it’s even a good time to post one now. After all, are there any bulls left in the cannabis space?
It’s been an absolute brutal year for cannabis stocks. Although, in all fairness, we essentially had a four-year bull run, so eventually, something had to give.
If you’ve been following the space this year, you’re probably also been cringing. It’s been an absolute blood bath.
The good news, however, is that the industry itself is actually stronger than ever. The stars continue to align in terms of public opinion, policy, and revenue growth, and we’ll likely see a few more states legalize next year, too.
That being said, I wouldn’t be in a hurry to run out and buy a bunch of pot stocks today. I don’t think the sell-off is over yet, but it’s definitely time to start getting your ducks in a row. Because when we do finally hit bottom, it’s going to be an absolute buying spree.
Looking forward to 2020, I’m focused on some of the more beaten-down pot stocks that are still quality plays, due to cash positions, growth rates, and just smart management teams making smart decisions and focusing on the long game, instead of trying to placate impatient investors who base their entire existence on quarterly reports. That’s no way to live, and it’s sure as hell no way to invest.
So in the coming weeks, I’ll be providing some updates on the cannabis stocks that I believe are going to have a very strong rebound in 2020. There are still a lot of quality cannabis stocks out there, but it’s …