After early high, a rude awakening for cannabis stocks in 2019

File: Marijuana is still selling well in Colorado, which in 2014 became the first US state to legalise its recreational use.NEW YORK - After sparking a Wall Street craze in 2018, cannabis companies fell flat last year, faced with disappointing growth in Canada and a frustrating hodgepodge of regulations in the United States.

Early on, investors bet big on consumers' appetite for cannabis products, watching eagerly as more US states authorised medical and even recreational use and Canada legalized pot smoking nationwide in October 2018.

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