Fundamentally, cannabis stocks represent one of the most groundbreaking industries in the history of commerce. Once a maligned and illegal sector, brewing progressive ideals pushed for broader legitimacy of the space, converting the arena into a legal (and therefore taxable) enterprise. However, once the initial enthusiasm faded, the “botanical” industry struggled for traction.
In the past year, cannabis stocks incurred significant red ink. Of course, much of that centered on blistering inflation and the Federal Reserve’s subsequent response of hiking the benchmark interest rate. Unfortunately, this dynamic invariably impacted economic stability and consumer sentiment. With households forced to choose between the essentials and the wants, many opted for the former out of financial coercion.
