Stockchase Opinions

Jim Cramer - Mad Money Canopy Growth CGC-N DON'T BUY Nov 17, 2021

The core business isn't that good. It's too late to sell, but don't buy any shares now.
$13.600

Stock price when the opinion was issued

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COMMENT
Lots of excitement here with the Democrats in the White House and wanting to decriminalizing cannabis, but Canopy needs full decriminalizing if it will keep going higher. Eventually, we'll get there, but likely not fast enough for the bulls. It reports Tuesday.
DON'T BUY
We need federal legalization now; he can't embrace the weed group until that legislation. He'd rather hedge in this space by buying Constellation Brands.
DON'T BUY
He prefers Constellation Brand, an integrated weed company.
DON'T BUY
At $9, you could buy it, but this had a weak quarter. Run by a good CEO and Constellation Brands has a stake in it. Problem is, he doesn't like the cannabis business--it's overhyped like gambling now.
DON'T BUY
Isn't recommending any cannabis stock, which need federal government approval of weed to rise.
DON'T BUY
Until Washington legalizes weed, you can't own this stock.
COMMENT
Will Constellation drop Canopy? No. The CEO believes that one day cannabis will be legalized nationally. He agrees, but doesn't know when this will happen.
BUY

Has followed this for along time. Constellation Brands owns a large stake in this. Shares are up 135% in the past month, though gave back in recent session. It's still more than doubled since he heard of possible legalization of weed in the U.S. Pres. Biden mentioned full legalization on March 7 and just today Florida said it will place the legalization question on the ballot.

BUY

Florida's upcoming vote to legalize cannabis could impact the industry. Canopy is the go-to name,