The profitability and business plans of many Cannabis-based businesses being traded on the open market have been tested in the last year. Many of them are down and many of them are struggling to find profit. However, there have been 2 that have not lost as much and they, recently, got the buy recommendation from a Yahoo finance writer, TipRanks. However, the article mentions that Coronavirus could affect the industry because much of the cheap or budget-friendly equipment comes from China.
The volatility of the Cannabis market on the open trading exchanges has continued into the new year as companies and their management are being tested by the marketplace conditions.
The article mentions that concerns about the Coronavirus will likely affect the Cannabis industry as well because some companies use the budget-friendly gear from China.
TipRanks, the writer of the article, still recommended two stocks to buy in the Cannabis industry despite the volatility and concerns about the Coronavirus.
Quote: “Is the bottom in yet for the beleaguered cannabis industry or can it actually drop any further? This is a question that has come up repeatedly over the last few months. Following several years of dramatic expansion, the sector’s upward curve came to a grinding halt last year.” (TipRanks, 2020)
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