Up 38% in 2020, Is Canopy Growth Still a Buy?

Amid the coronavirus disease 2019 (COVID-19) pandemic chaos, North American marijuana stocks have done surprisingly well. The cannabis-focused Horizons Marijuana Life Sciences ETF has jumped by a low double-digit percentage on a year-to-date basis through this past weekend.

But the largest marijuana stock in the world has delivered even more impressive returns. Canopy Growth (NASDAQ: CGC), the only large-cap pure-play pot stock, has gained 38% since the year began, and has more than doubled since the beginning of October.

Can this amazing run continue? Or would investors be wise to avoid the biggest marijuana stock? Let's take a closer look by analyzing the buy and avoid arguments.

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Source Fool.com