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Ongoing efforts to legalize or decriminalize marijuana have contributed to the rise of cannabis stocks in the last five years. However, stock prices have plunged in the past year in the face of regulatory hurdles—including a federal ban on vaping products that went into effect last month—and pot companies are strapped for cash. This Barron's article outlines the liquidity problems faced by many of the country's top cannabis companies, and what this could mean for investors.

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