Cannabis stocks are on a major downer. The only good news is that U.S. pot companies are better able to cope with low valuations than they were during the last crunch.
The selloff in riskier stocks has hit U.S. marijuana businesses hard. The AdvisorShares Pure Cannabis ETF , one of the larger funds tracking the sector, is down 22% this year even after a poor 2021. The fund lost almost one-third of its value last year as hopes of marijuana reform in Washington faded.
