Where Will Canopy Growth Be in 5 Years?
Canopy Growth Corp (NASDAQ: CGC) remains one of the more peculiar stocks in the marijuana sector. During its second quarter 2021 (ended Sept. 30), the company grew its revenue by a stunning 77% year over year, and its shares are subsequently trading at nearly 30 times revenue.
While that may seem reasonable, Canopy Growth's competitors, such as Green Thumb Industries (OTC: GTBIF) (CNSX: GTII) and Curaleaf (OTC: CURLF) (CNSX: CURA), are trading at much lower valuations despite posting triple-digit percentage increases in sales compared to last year.
One big reason for the hype surrounding Canopy Growth is its expansion outside of the Canadian marijuana market. The company is already a market leader in Germany, but all eyes are turning toward its plans to make a dent in the U.S. pot industry. Will the company be successful in its endeavor in a matter of five years? Let's find out together.
Source Fool.com
