Is It Too Late to Buy Canopy Growth Stock?
With the Biden Administration making noises in early October that indicate marijuana prohibition could be on the way out, a new heyday of cannabis investing might be lurking just over the rapidly approaching horizon.
It remains to be seen exactly what will happen due to the administration's instructions for the Department of Justice to review the scheduling of marijuana, which is federally a Schedule I drug (in the same category as heroin). But the fact that many states now allow legal sales of pot is sure to be a factor in their decision making.
And progress toward decriminalization or legalization is exactly where a heavily bruised cannabis stock like Canopy Growth (NASDAQ: CGC) just might have an opportunity to make a sharp turnaround. But will Canopy be able to recover from its recent collapse, or is it too late for investors to make a profit given its issues with maintaining revenue growth over time?
Source Fool.com
