Marijuana stocks took a beating in 2021 and, so far in 2022, investor sentiment remains cautious.
They continue to trade with neutral sentiment, lacking any strong and sustainable upside moves. This is reflected in the ETFMG Alternative Harvest ETF (NYSEARCA:MJ), a broad barometer of the pot sector. The exchange-traded fund (ETF) recently declined to a low of $8.47.
In my view, the selling hasn’t been justified. I expect the ETF to rally, but there could be another retest of its low.
I view the price weakness in marijuana stocks as a contrarian investment opportunity. One pot stock to keep an eye on is Tilray Inc (NASDAQ:TLRY).
The post Tilray Inc: Soon-to-Be $1-Billion-Revenue Pot Stock Could Easily Triple appeared first on Profit Confidential.