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Furthermore, the cannabis industry’s prospects appear to be uncertain owing to the Senate’s disagreement over the decriminalization of marijuana at the federal level. The Cannabis Administration and Opportunity Act, floated by Senate majority leader Chuck Schumer last month, which would remove marijuana from the Controlled Substances Act, does not yet have sufficient supporters in the Senate.
Amid this uncertainty, we think it would be wise to avoid fundamentally weak cannabis stocks Cronos Group Inc. (CRON) and GrowGeneration Corp. (GRWG). These two stocks have declined more than 10% in price over the past week.
