It doesn’t take an advanced degree in finance to recognize the huge risks associated with cannabis specialist Canopy Growth (CGC). Once considered the crown jewel of the “botanical” ecosystem, CGC stock has fallen dramatically from grace. At the moment, the company carries a market capitalization of only a bit over 736 million CAD (about $543 million at current exchange rates).
Even worse, CGC stock – which trades at only 76 cents – has been overshadowed by its rivals. In particular, Curaleaf (CURLF) commands a market cap of 3.33 CAD (or roughly $2.46 billion). Adding insult to injury, the Barchart Technical Opinion indicator rates it a 56% Buy. On the other hand, CGC symbolizes a 16% Weak Sell. If one was looking for a confidence boost, that wasn’t it.
