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Is Canopy Growth a Buy?

TheMotleyFool

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Shares of Canopy Growth (NASDAQ: CGC) have fallen over 50% from their February highs. Investors bid up Canopy Growth partly due to a Reddit-induced rally in meme stocks, and speculation that Canopy Growth would flex its muscles via its huge cash balance in light of recent merger and acquisitions in the sector. However, many were then quickly disappointed after its business results from Q4 2021 (ended March 31) just didn't meet expectations.

Doubling down on a falling stock could be a risky yet profitable endeavor. Is Canopy Growth the right candidate for this purpose?

Image source: Getty Images.

Source Fool.com

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