Canopy Growth Names Its New CEO: 4 Off-the-Cuff Thoughts
There's little doubt that marijuana has the possibility of becoming a juggernaut industry roughly 10 years from now. But between now and then, it could be quite the bumpy ride, as shareholders of Canopy Growth (NYSE: CGC), the largest marijuana stock in the world by market cap, have found out in recent months.
Since hitting its year-to-date closing high of $52 in April, Canopy Growth at one point proceeded to give back more than 70% of its market value. The most prominent pot stock has been hit with supply issues throughout Canada, the inability to sell its cannabis products in foreign markets, and has been losing money at an extraordinary pace.
It's also a company that's been looking for a permanent CEO since early July -- that is, until this past Monday, Dec. 9.
Source Fool.com
