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3 Cannabis Stocks to Avoid in October By StockNews

by Mike Robinson

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© Reuters. 3 Cannabis Stocks to Avoid in October

The cannabis industry has made great strides over the last decade especially as public attitudes improve. Investors have been paying attention to the sector, but they must avoid low quality stocks. Considering this, we believe they should avoid stocks like Harvest Health & Recreation (HRVSF (OTC:)), TerrAscend (TRSSF), and OrganiGram (OGI).Although the U.S. cannabis industry has been gaining steam due to the legalization of recreational marijuana in several states, there continue to be major obstacles including legalization at the federal level. Due to its ease of cultivation, investors are likely to not see high returns on their investment.

The industry is becoming highly competitive due to the increasing favorable laws surrounding cannabis. These changes could have a negative impact on the market share and increase prices.

Given this backdrop, it could be wise to steer clear of cannabis stocks Harvest Health & Recreation Inc. (HRVSF), TerrAscend Corp. (TRSSF), and OrganiGram Holdings Inc. (NASDAQ:), which possess weak fundamentals.

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