Written by Christopher Liew, CFA at The Motley Fool Canada
North America dominates the marijuana industry with more than 80% market share. Statista.com projects a compound annual growth rate (CAGR) of 14.6% in five years, with a corresponding volume of around US$102.9 billion by 2028.
While the global market size is growing at an accelerating pace, prominent cannabis stocks have nothing to show but losses. Canopy Growth (TSX:WEED), Aurora Cannabis (TSX:ACB), and Tilray Brands (TSX:TLRY) have lost between 85% and 99% in the last three years. As of this writing, all three names are also losing year to date.
Only Curaleaf Holdings (TSX:CURA) stands out and outperforms the TSX thus far in 2023, up 31.22% versus 2.17%, respectively. However, like its industry peers, this cannabis stock has a negative return of 65.6% in three years. The market-beating year-to-date gain is enticing, but staying clear is better unless…
