Before Canada legalized marijuana in 2018, Canopy Growth (NASDAQ: CGC) was seen as a top cannabis stock, an industry leader, and arguably one of the best stocks to invest in for people who were bullish on the prospects for marijuana reform at the time.

Fast-forward to today, and I would hesitate to classify the stock as a leading company or a top growth stock to own. There are larger cannabis companies than Canopy Growth out there, and it hasn't been much of a growth business of late -- it has been slashing costs and pivoting to an "asset-light" model in order to conserve cash.

But Canopy remains hopeful about the U.S. legalizing cannabis because if that happens, it will open up a new growth opportunity for the business. And that raises the question -- is it really too late to invest in the pot stock, or could now be the right time to finally buy shares of Canopy Growth?

Continue reading

Source Fool.com