Down 98% in 5 Years, Is There Any Hope Canopy Growth Stock Can Ever Recover?
Canopy Growth (NASDAQ: CGC) was once the leading cannabis company in the world. While it's still one of the more popular companies in the marijuana industry today, it's hard to say it's a top one, given the company's struggles. Things have been going so badly for Canopy Growth that it has lost a remarkable 98% of its valuation over the past five years. Investing $100,000 in the business back in 2018 and holding on would have left you with less than $2,000 today.
But not all investors have given up on the company. Are they right to hold onto hope? Is there still a reason to remain bullish on this disaster of an investment, or are you better off simply avoiding Canopy Growth stock entirely?
If you've followed Canopy Growth's story at all in recent years, then you know the big allure of this stock is that the company has the potential to be a big player in cannabis on the U.S. stage. But that comes with an asterisk because the U.S. pot market isn't fully open for business.
Source Fool.com
