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Investor Insights

This summary was created by AI, based on 2 opinions in the last 12 months.

Based on the experts' reviews, it is clear that Florida's potential legalization of cannabis could significantly impact the industry, with Canopy Growth being a prominent player in this space. The company's stock has shown substantial growth in recent times, especially after President Biden expressed support for full legalization. However, there has been a slight pullback in the stock's value recently. With the potential for legalization looming and the involvement of Constellation Brands, Canopy Growth seems to be in a strong position within the market.

Consensus
Positive
Valuation
Fair Value
BUY
Canopy Growth

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

Healthcare
BUY
Canopy Growth

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.

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COMMENT
Canopy Growth
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.
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DON'T BUY
Canopy Growth
Until Washington legalizes weed, you can't own this stock.
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DON'T BUY
Canopy Growth
Isn't recommending any cannabis stock, which need federal government approval of weed to rise.
Healthcare
DON'T BUY
Canopy Growth
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.
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DON'T BUY
Canopy Growth
The core business isn't that good. It's too late to sell, but don't buy any shares now.
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DON'T BUY
Canopy Growth
He prefers Constellation Brand, an integrated weed company.
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DON'T BUY
Canopy Growth
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.
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COMMENT
Canopy Growth
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.
Healthcare
BUY
Canopy Growth

The cannabis sector under Biden and the Democrats He likes the long-term in cannabis. Canopy has the capital and strong management to stay in the long game. Also, he likes Aphria.

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BUY
Canopy Growth

Canopy is the way to play cannabis as we enter a Biden adminIstration. Also, Canopy has the interest of Constellation Brands.

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It's a Monthly Gems opinion which is available only for Premium members

Curated by Allan Tong since 2019.
99+ opinions with 4.15 rating.

TOP PICK
Canopy Growth
Biden's running mate, Kamala Harris came out during her vice-presidential debate to decriminalize cannabis. On Tuesday, voters in four American states to legalize weed, plus two more to allow medical marijuana. That means 16 states have decriminalized cannabis, plus 15 have legalized it. On Wednesday, Canadian weed stocks soared and continued to climb on Thursday. Is the weed (euphoria) already baked in? Will this rally crash into a bummer? The king of Canadian cannabis, Canopy, has seen wild swings this week on the Nasdaq, so there is risk, but also enormous reward. On Thursday, CGC-N popped over 11%. Canadian cannabis should continue to rise until American lawmakers allow their country's own growers to publicly trade. When that happens, who knows?
Healthcare
WEAK BUY
Canopy Growth

Investors are betting on the Blue Wave, a Democratic sweep. Though Biden hasn't said he'll legalize cannabis, the Dems will make it easier for the cannabis industry to operate. Of note, recreational grass is already legal in 11 states and DC; recreational weed is on the ballot in three states on Nov. 3; and two-thirds of American believe it should be legal, even more when it comes to medicinal grass. No, we won't see a boom in Canadian weed, but instead American companies because American politicians need to serve American businesses first. Canada teaches us that when you legalize weed, EVERYBODY grows it, supply surges, driving the price down and companies don't make money. The one exception is Canopy. One reason is its relationship with Constellation Brands and carries the potential of weed-infused drinks and a leg up against competitors. Canopy itself has been a dog, but is lately showing some life.

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Canopy Growth(CGC-N) Rating

Ranking : 4 out of 5

Bullish - Buy Signals / Votes : 2

Neutral - Hold Signals / Votes : 0

Bearish - Sell Signals / Votes : 0

Total Signals / Votes : 2

Stockchase rating for Canopy Growth is calculated according to the stock experts' signals. A high score means experts mostly recommend to buy the stock while a low score means experts mostly recommend to sell the stock.

Canopy Growth(CGC-N) Frequently Asked Questions

What is Canopy Growth stock symbol?

Canopy Growth is a American stock, trading under the symbol CGC-N on the New York Stock Exchange (CGC). It is usually referred to as NYSE:CGC or CGC-N

Is Canopy Growth a buy or a sell?

In the last year, 2 stock analysts published opinions about CGC-N. 2 analysts recommended to BUY the stock. 0 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Canopy Growth.

Is Canopy Growth a good investment or a top pick?

Canopy Growth was recommended as a Top Pick by on . Read the latest stock experts ratings for Canopy Growth.

Why is Canopy Growth stock dropping?

Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.

Is Canopy Growth worth watching?

2 stock analysts on Stockchase covered Canopy Growth In the last year. It is a trending stock that is worth watching.

What is Canopy Growth stock price?

On 2024-05-24, Canopy Growth (CGC-N) stock closed at a price of $9.17.