There’s no sugar coating it: Cannabis stocks have had a tough ride in the second half of October. Collectively, the group was hammered as the overall markets took a hit. Surprisingly though, many cannabis names held up fairly well — Aurora Cannabis (NYSE:ACB) included.

That’s as recreational marijuana became legal in Canada in mid-October. Several stocks broke out just ahead of the event, only to reverse lower and join the major selling theme of the market. It set up as one great sell-the-news event, something we weren’t surprised about when we looked at Canopy Growth(NYSE:CGC) earlier in the month.

The legalization of cannabis on October 17 was a huge day for Canada, but for drivers it has created a lot of questions. Like alcohol, cannabis is considered a substance that impairs your ability to drive, but what constitutes ‘impairment’ is somewhat unclear right now, and impairment rules differ between police forces across Canada.

According to data compiled by Global Market Insights, the U.S. medical cannabis market is expected to grow from over USD 3.5 Billion to surpass USD 8.0 Billion by 2024. Cannabis for medical purposes is now legal in 31 states and medical cannabis has been increasingly used in the treatment of a range of conditions such as neurology, cancer, HIV/AIDS, seizures, muscle spasms, and nausea. Based on application, the U.S. medical cannabis pain management market was valued at USD 2.69 Billion in 2017, accounting for around 75% share of the total cannabis application market. The medical cannabis market for skin-related conditions is expected to witness an annual rate of 13.7% as it offers a better treatment option than other steroid creams. Micron Waste Technologies Inc.

The recent pullback in the share prices of marijuana companies has investors wondering which pot stocksmight be attractive buys right now for a cannabis stock portfolio. Let’s take a look at Aphria (TSX:APHA)(NYSE:APHA) to see if it deserves to be one of your marijuana stock holdings right now.

Organigram Holdings Inc. (TSXV:OGI), one of the Canadian cannabis stocks, announced recently that it has signed a supply agreement with the BC Liquor Distribution Branch. This is the eighth such provincial supply agreement out of 10 provinces that have finalized supply agreements and aligns well with the Company’s increasing focus on producing and selling cannabis, with a shift away from its clinic operations.

Edmonton-based Fire and Flower is readying its storage facility and has applied for a licence to operate a wholesale cannabis operation, according to the company’s vice-president of government and stakeholder relations, Nathan Mison.

Many of the marijuana retail outlets in Saskatchewan, including all seven in Saskatoon, have yet to open. Many have cited a lack of supply.

“We’re very close, but we’re not open yet,” Mison said in a phone interview last week from Edmonton. “We hope we’ll be able to fill some of the market. We don’t know that we will be able to fill all of the market.”

Here’s an overview of the regulatory status of marijuana legalization in top cannabis countries and what companies and stocks have the most considerable presence there.

Second Cup to start pot store conversions in Alberta

Second Cup provided some new details on its work to convert some of its stores to cannabis shops when the coffee chain reported third quarter results on Monday. The company says it is in the process of converting two Alberta stores to recreational cannabis dispensaries as part of its joint venture with National Access Cannabis.  Other locations in Ontario have been identified as possible conversions as well. Second Cup also announced a strategic review of its operations as it looks to “evolve” now that it has improved its balance sheet. . 

October wasn't pretty for marijuana stocks. All of the big five Canadian marijuana growers' stocks plunged. And the horrible performance came during a month when the much-anticipated recreational marijuana market in Canada opened for business.

The conventional wisdom would probably be that the launch of a multibillion-dollar market would be a good thing for the stocks. However, a twist on the old investing adage "buy the rumor, sell the news" appeared to rule the day -- actually, it ruled the month.

The red-leafed blueberry bushes and greenhouses filled with tomatoes tell you that this small town south of Vancouver is a great place to grow things. A peculiar smell in the air tells you marijuana producers have already figured that out.

Across Canada, gleaming glass greenhouses that once grew produce for consumers are being retrofitted with air filters and light-blocking shades. Gone are the tomato plants and peppers. In their place are tens of thousands of sun-grown cannabis plants and hundreds of farmworkers transplanting, watering, trimming and packaging pot.

Experts say these highly sophisticated operations are the future of marijuana production internationally. The hope is that they will drive the price of pot so low, black marketeers give up.