Canopy Growth

CGC

Market cap $391M

For investors looking to make more green, marijuana stocks may be the way to go. Contrary to the doubt or fear based on the past, the cannabis industry is growing at a fast pace. Now, with cannabis classified as a Class 3 substance, there is very little barrier for legal operators. What that means is now there can be more product research and testing.

The latest trading day saw Canopy Growth Corporation (CGC) settling at $0.96, representing a -1.15% change from its previous close.

Recently, Zacks.com users have been paying close attention to Canopy Growth (CGC). This makes it worthwhile to examine what the stock has in store.

Canopy Growth's turnaround is real, but it remains unfinished. Profitability remains the biggest hurdle for the cannabis producer.

The latest trading day saw Canopy Growth Corporation (CGC) settling at $0.95, representing a -1.04% change from its previous close.

A reverse stock split may be necessary for Canopy Growth to keep its stock price above $1 and be in compliance with Nasdaq listing requirements. Canopy Growth last did a reverse split in December 2023.

As the cannabis sector continues to grow, it has marijuana stock investors seeing green. There has been a long, volatile battle for most of the time cannabis companies have been publicly traded. Even during the moments when many used pot stocks to get quick profits, given how the sector once began. At one point, a great deal of hype and speculation fueled investors in taking up positions for particular cannabis stocks.

While the analyst backs his bull case with estimates and facts, it's hard to envision triple-digit percentage gains for this Canada-based cannabis stock. Even if you're bullish on the U.S. legalization trend, it's smarter to stick with marijuana stocks that have stronger fundamentals.

Canopy Growth Corporation (CGC) closed at $0.95 in the latest trading session, marking a -4.45% move from the prior day.

While cannabis investors finally have an expedited DEA administrative hearing on the calendar and a fresh Schedule III pathway in motion, Wall Street has stood at this exact intersection before.