It's Time to Throw This Marijuana Stock Away and Never Look Back [The Motley Fool]
INSYS THERAPEUTICS (INSY)
Last insys therapeutics earnings: 11/5 04:16 pm
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Source: The Motley Fool
This pot stock is a disaster, and it belongs nowhere near investors' portfolios. The marijuana industry is growing like a weed, and investors have taken notice. Since the beginning of 2016, many of the top-performing pot stocks have gained triple or quadruple digits, to the delight of investors willing to stomach the volatility. The big event driving these gains is Canada's legalization of recreational cannabis on Oct. 17. Although it's going to take a couple of years for the industry to finish expanding its capacity and for Health Canada to cycle through hundreds of cultivation applications and sales permits, the reward could be huge. Various Wall Street estimates suggest that Canadian pot stocks could see $5 billion or more in added annual sales, atop what they were already generating from medical cannabis sales and via exports. But as we know from other emerging high-growth industries, not every company can be a winner. Even though it'll probably take a few years to s
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