There has been a paradigm shift in the weed industry, Jim Cramer says

Pot stocks caught fire last year between Canada's legalization of recreational weed and the United State's legalization of hemp in the 2018 Farm Bill. But Cramer says shareholders set expectations too high. The sector has experienced two dramatic sell-offs within the past nine months, during the fourth-quarter meltdown and again in the recent earnings cycle.

A number of CEOs made bold forecasts for their companies, but recent earnings in the space show the Canadian market will be a "dogfight," Cramer said. Even

MadMoneyOnCNBC jimcramer jimcramer you know what else is damaging? I own a full automation system for growing marijuana. The legal regulations do not allow me to compete in this market. Even with closed off market with no real competition? They still can't win. Permits are extremely hard to get.

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