Analysts Are Losing Hope in Canopy Growth. Should Investors Ditch the Stock?
Pot stocks haven't made for great investments of late; in just the past six months, the Horizons Marijuana Life Sciences ETF has fallen more than 31%. And cannabis producer Canopy Growth (NASDAQ: CGC), once the industry's leader, has fared even worse, crashing by more than 51%.
The temptation may be there for investors to buy the stock at its reduced price, but the danger is that things can get a whole lot worse before they get better. Multiple brokerages have downgraded the stock in recent months, as analysts aren't optimistic Canopy Growth's financials will improve as quickly as management expects them to.
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Source Fool.com
