Canopy Growth Corp (WEED)

[BubbaInSC]

Yes It's about Making $$ Regardless of Direction of PPS

Agree that people should not fall in love with any stock

Charts clearly show a 150% increase since Oct 2020 and is ~20% off of 3 year highs.

Well known that many Canadian MJ stocks overextended themselves and overpaid for assets, had to take goodwill writeoffs, still too much supply in canada, had to write off losses in excess inventory, took a hit on margins, closed down cultivation/production sites, and hopefully have reallocated resources accordingly.

CGC still considered a leader in industry, and hopefully positioned self in good position w/ partnership with Constellation Brands to access the US market.

There is no expectation to increase Canadian Market share; which allegedly stands at ~70%.

There is an expectation that CGC will start accessing the USA MJ Market - and perhaps that is where they have a leg up on other Canadian MJ cultivators/producers; because of Constellation's distribution channels worldwide.

So, yeah - there is a buzz with Biden's win, Democrats now control Senate with Kamala Harris owning the tie-breaker.

The key thing going forward is how quickly the USA can legalize recreational and medicinal marijuana for the remaining States that haven't already done so, pass several mj legislation bills, reclassify/reschedule marijuana w/ FDA, and changing banking requlations for mj.

How quickly can that be done? Don't know, but hopefully sooner than 2 years.

Will CGC (and other MJ stocks) pull back from it's recent gains? Yes, it definitely will.

Will CGC pull back to 2018 levels. Maybe.

I'd say that there is a 50-50 shot it will go either way - LOL :)

Depends on so many possible catalysts or events.

Right now, momo say up....but pps will surely see resistance as it moves towards $75ish canadian


6 month chart TO Exchange


5 year chart TO Exchange