Can Canopy Growth Go Lower Or Has It Reached Its Rock Bottom?
Just a year ago, many would have pointed to Canopy Growth (NYSE: CGC) -- the largest cannabis company in the world by market cap -- as the crown jewel of the promising marijuana industry. What a difference a few months make: Canopy has been absolutely pummeled on the stock market over the past six months -- as have many of the other top pot companies -- and its shares have lost more than 60% of their value since April.
The issues that have led to these struggles are well documented and include a slow rollout of physical stores and supply issues in the Canadian market. However, the worst may be yet to come for Canopy. There are two key reasons why the pot stock could sink even lower.
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Source Fool.com
