By Ambrose O’Callaghan, Yahoo News on August 20, 2023
The election of the Justin Trudeau-led Liberals to a majority government in 2015 brought the promise of legal recreational cannabis in Canada. Cannabis stocks were scorching hot, making fortunes for opportunistic investors in a relatively short amount of time.
Canopy Growth (TSX:WEED) proved to be one of the most sought-after cannabis stocks in the second half of the 2010s. The company was geared up to become Canada’s top cannabis producer. At the time, some investors believed that this would essentially be a license to print cash. However, the realities of recreational legalization since 2018 have been a major buzzkill for this sector.
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