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Once upon a time, we were bullish on cannabis stocks.
We saw the statistics that young folks like to smoke/eat/ingest marijuana as much as they like to drink. We saw the political dominoes falling, one-by-one, with country after country legalizing pot. We connected the dots, and believed that we were entering a new world where young folks would buy a lot of legal marijuana over the next few years.
In fact, we believed this trend was going to create a $50+ BILLION global cannabis industry, and that out of that industry would emerge the marijuana-equivalent of Constellation Brands (NYSE:STZ), Molson Coors (NYSE:TAP), and Anheuser-Busch (NYSE:BUD) – all alcoholic beverage giants worth a combined $150 billion.
But that time has passed. Now, we’re no longer bullish on cannabis stocks. In fact, instead of buying cannabis stocks, we think you should eliminate all exposure to the marijuana industry right now.
Source: TradingView
Why?
Because, while…
Read more:The Reason I Was Wrong on Pot Stocks Is Why I’m Right About This