by Nick Giambruno
Casey Research
Three years ago, I put cannabis investing on your radar…
At the time, there were only a dozen or so publicly traded cannabis companies. Today, there are well over 300.
Before the recent crisis, new ones seemed to be popping up each week. Others were simply adding “cannabis” or cannabis-related words to their company names to tap into the green gold rush.
The truth is, most cannabis companies are junk with abysmal financials. But despite their lack of business potential, many of these stocks had been soaring during the boom.