CNBC’s Jim Cramer thinks there has been a paradigm shift in the cannabis arena.
“As the weak hands exit the cannabis space, investors are starting to care about the actual results,” said Cramer on Thursday.
“This is why I told you to be wary of some of the wilder promises made by marijuana executives, even though I’m a big believer in the long-term theme,” he added.
As the weak hands exit the cannabis space, investors are starting to care about the
“Without the promise of legalization here in the U.S., you have to make decisions on the cannabis stocks based on the numbers, not optimistic promises,” said the Mad Money host.
“Without the promise of legalization here in the U.S., you have to make decisions on the cannabis stocks based on the numbers, no longer optimistic promises,” said Cramer. “And the actual numbers are complicated, to put it diplomatically.”
“I think the group may have to do some cooling off, but as the pot stocks settle, you can buy the likes of Canopy and Cronos into weakness,” Cramer added. “Just understand that the paradigm has now shifted and is much more rigorous for the entire industry.”
