Pot stocks have been pulling back after Aphria Inc (NASDAQ:APHA) posted less than spectacular results earlier this week. That helped to break down the main industry ETFs and shake out the remaining speculative interest in the space. Which brings us to a rather interesting point. Recall that Tilray Inc (NASDAQ:TLRY) reached as high as $67/share
The legal cannabis trend is a long-term phenomenon driven by expanding demand as the inevitable broad legalization of recreational pot marches forward. New York and New Jersey were the most recent states to join the trend in the US. But California is still the biggest market, and it likely will be for the long run.
For many investment themes, 2020 was scary, and then 2021 said, “Hold my beer.” But, while early year results have so far failed to live up to high vaccine-driven expectations, some areas of the market are powering ahead. One of the most prolific performers is the cannabis space, where its lead ETF, the ETFMG Alternative