MedMen Enterprises  (NASDAQOTH:MMNFF) probably can't get enough of being compared to Apple. The cannabis retailer's upscale stores and super-high sales per square foot in those stores have earned it a nickname -- "the Apple Store of weed."

But MedMen's latest effort ended up being much more like Apple's ill-fated personal digital assistant Newton than any of Apple's successes. MedMen hoped to raise $120 million in a recent financing round. Instead, the company had to settle for 38% less -- and it lost its CFO along the way. Is "the Apple Store of weed" a buy after its financing flop?

Cannabis stocks have given back a big chunk of their gains in recent weeks, and investors who missed the rally through the end of the summer are wondering which pot stocks might be the best picks right now.

Let’s take a look at Aphria (TSX:APHA)(NYSE:APHA) and HEXO (TSX:HEXO) to see if one deserves to be on your buy list.

Aphria

Aphria pretty much has Canada covered, with supply agreements now in place with all the provinces and one territory.

While there may have been a recent pull back on Cannabis stocks, one thing that remains strong is the grow operations show no signs of slowing and instead continue to expand. The cannabis industry's growth is forcing industry cannabis focused companies to evaluate the current state of their operations, both in terms of scale and efficiency. Despite market conditions, more importantly as demand rises and retail sales improve, companies are still choosing to expand operations with investment and innovation. Driving the demand could also be attributed to the change in federal policy in the U.S. and recent legalization of recreational marijuana in Canada.

Trust is a powerful word. When purchasing a stock, investors need to trust in the company they are buying not only in the products or services offered, but also in the management. Even the biggest and mightiest of companies can fall if not managed properly. One need only to look at General Electric as a perfect example.

It was therefore interesting to read Report on Business‘ annual look at Canada’s corporate boards. The report, Board Games, looked at a company’s corporate governance structures and scored them on a set of criteria in four areas: Board Composition, Shareholder and Compensation, Shareholder Rights and Disclosure.

2018 was supposed to be the year of cannabis stocks. And in some ways it has been: the late summer cannabis rally was probably the biggest one to occur on the TSX this year, and while it has long since deflated, many pot stocks remain up year-to-date. But for investors who bought in August or later, marijuana stocks have been a losing proposition.

At the time of this writing, market leaders like Canopy Growth Corp  (TSX:WEED)(NYSE:CGC) and Tilray Inc  (NASDAQ:TLRY)were down as much as 48% from their 12-month highs. And some, like Aurora Cannabis Inc, are even down year-to-date.

The marijuana industry has truly been something special this year.

For starters, Canada became the first industrialized country in the world to legalize recreational cannabis on Oct. 17. When the industry is fully up to speed, Wall Street believes it could be generating in excess of $5 billion in annual added sales, atop what it was already bringing in from medical weed sales and exports to medically legalized foreign countries.

 Marijuana stocks have built out a new niche in the stock market and unlike past years, this niche isn't just for those looking for high-risk trades. The expansion of cannabis legalization across North America doesn't solely include Canada. Many states in the US now have some sort of legalized marijuana laws in place. Most recently, medicinal marijuana patients in New Jersey could soon be able to purchase more medicine, from a greater number of licensed dispensaries, at the recommendation of a wider pool of healthcare professionals, and possibly for lower cost, thanks to legislation that advanced Monday.

Canadian stock exchanges have served as a hot spot for U.S. cannabis companies as they list their shares north of the border to better access capital markets.

When 2018 finally comes to a close, investors will likely look back and declare this the most game-changing year in cannabis history.

The big news, as you're probably aware, was the legalization of recreational marijuana in Canada a little more than five weeks ago. When the industry is running on all cylinders, it's expected to bring in billions of dollars in added annual sales, as well as generate plenty of green for the industry.

Desperate times call for desperate measures in Canada’s supply-constrained pot industry.

National Access Cannabis Corp., the country’s largest private marijuana retailer with 17 stores, has a team of five people watching 24/7 for new inventory from Alberta’s provincial regulator, which controls wholesale pot distribution. “At 3:30 in the morning all of a sudden $4,000 worth of inventory is made available yet in seven minutes it’s drawn down, meaning that other big competitors are doing the same thing,” Mark Goliger, chief executive officer of Ottawa-based NAC, said in a phone interview Friday.