Can Canopy Growth Get Back to $50 This Year?
This year started out great for Canopy Growth (NASDAQ: CGC). The marijuana producer was riding the hype surrounding marijuana legalization in the U.S., hitting a 52-week high of $56.50 on Feb. 10. But it's been a slow burn over the past four months, with the Canadian pot stock losing more than half of its value since then.
Canopy Growth is now in a new fiscal year, one full of hope and expectations for profitability. But can investors expect shares of the company to rebound and get back to the highs they hit earlier in 2021, or is it time to dump this stock once and for all?
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Source Fool.com
