Canadian pot producer Canopy Growth (CGC) has a market value above $9 billion, helped by a huge investment from Corona parent Constellation Brands (STZ) and control over a big chunk of Canada's recreational weed market. It has struck up partnerships with celebrities and found new ways to enter the U.S. market. But after the departure of CEO Bruce Linton, who helped engineer many of those gains, is Canopy Growth stock a buy right now?
Canopy Growth Fundamental Analysis: Still No Profits
Canaccord analyst Matt Bottomley said in a report last month that Canopy Growth had “by far the #1 position in the Canadian market.” Some analysts this year have estimated that its recreational market share stands at around 30%. Stifel analyst W. Andrew Carter in June called Canopy Growth stock “the best investable opportunity” in the industry, saying the pot company was ahead of rivals in building out infrastructure to serve Canada's legal market.