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Sell the pot stocks — the market is 'not what it was cracked up to be,' Jim Cramer says

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'Companies need to close, funding needs to dry up, mergers must occur. Until then, these stocks are now sell-in-the-strength detritus,' the 'Mad Money' host says.

CNBC's Jim Cramer says "the marijuana industry is just not what it was cracked up to be."

"I worry that maybe the equilibrium price for cannabis is much lower than we'd thought it'd be, and that's a major change," he says.has tapped the breaks on his hypothesis for pot stocks claiming "the marijuana industry is just not what it was cracked up to be."host said he may have been wrong in calling the weed business an "incredible opportunity.

Cramer initially thought the budding cannabis industry represented a great investment in its infancy. Now he's saying it appears to be a "much smaller opportunity" than most projected, citing the decline in the sticker price for legal weed as Canadian companies expand production.

 

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