Stocks wilted in May. The S&P 500 plunged 6.4%, including dividends, which is a huge monthly drop that equates to an annualized loss of nearly 77%.
Last month was the market’s first down month in 2019, and the worst May for stocks since 2010.
High-flying stocks were generally the hardest hit, particularly those in the cannabis space. Amid the carnage in the sector, however, there was a little-known gainer: EnWave (TSXV: ENW) (NASDAQOTH: NWVCF). Along with making all-natural dried cheese snacks, the Canada-based company licenses, manufactures, and installs equipment for dehydrating organic materials, including marijuana and hemp.
Here’s what you should know.
EnWave stock gains in May as cannabis stocks crater
Cannabis stocks were largely dragged down by the poor overall market. When the market declines, stocks that are speculative and highly valued — and cannabis stocks are the poster children for these adjectives — tend to suffer the most. During such times, many investors