They write… If You Invested $5,000 in Canopy Growth’s IPO, This Is How Much Money You’d Have Now
If you had invested $5,000 in Canopy Growth (NYSE:CGC) on the day of its trading debut in May 2018, that investment would be worth just $2,762 as of Oct. 8 — a devastating 45% loss. At one point in time, the principal would have been worth more than $10,000 due to excessive speculation in the Canadian marijuana market. Now, that bubble has popped, and many investors are left wondering whether they will ever recoup their capital.
As it turns out, the problems that caused Canopy Growth’s spectacular fall are still lingering. Even the billion-dollar investment made in the company by Constellation Brands (NYSE:STZ) may not be enough to reverse the trend. Let’s look at why investors should look past Canopy Growth and choose other marijuana stocks today.