Will This Colossal Mistake Send Canopy Growth Stock Crashing?
There's little doubt that the U.S. market is the focus for Canopy Growth (NASDAQ: CGC). The company is certainly in a good position to capitalize on the opportunities there, as it has been working on developing beverages with partner and key investor Constellation Brands. It also has a pending deal with Acreage Holdings that can be consummated if the federal ban on marijuana is lifted in the U.S.
But I believe the company is too focused on the U.S. market, especially since legalization may still be years away. Canopy Growth appears to be all in, with CEO David Klein stating in February that he expects the company to be operating in the U.S. THC market in the current calendar year. It's a risky strategy given that its operations aren't in great shape today.
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Source Fool.com
