This Is What Can Take Canopy Growth (USA) Shares above $ 70



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Canopy growth (TSX: WEED) (NYSE: CGC) is back active. In the past three weeks, these top marijuana producers have surged by around 60%, opposing all opportunities in the market where investors generally avoid risk.

This Canopy share value surge has helped investors to recover most of the losses they experienced during the big correction that occurred in the last quarter of 2018. After this impressive rally, many investors wondered whether the top pot producers would achieve a high all-time $ 76.68 it reached last summer.

In my view, Canopy Growth is on the right track to reach new heights, although there are some short-term setbacks for weed producers in the last quarter of 2018. This is why I feel optimistic about this company.

The momentum of growth continues

Canopy growth is one of the few weed stocks that has a strong foundation to grow its business and reward investors along the way.

What makes Canopy different from other producers is the size of the market, the capacity to increase production, and the diversity of product offerings, in addition to its international reach.
Canopy currently operates a weed planting facility with an area of ​​more than 2.4 million square feet.

But producers have expanded their operations quickly, which will provide the potential to manage more than five million square feet of production space next year.

In the latest development, Canopy Growth obtained a hemp license in the State of New York, because it plans to build extraction and manufacturing facilities.

GMP analyst Martin Landry, who raised the share price target to $ 70 from $ 50, said in a recent note that CBD-based consumer products could reach a combined US market size of $ 50 billion.

Initiatives like this and company partnerships with Rasi Bintang Brand making Canopy a formidable player in the cannabis space and more attractive to investors looking for exposure to the US marijuana market.

According to Landry, Canopy can have CBD-based products across the US by 2020, increasing the distribution range of Constellation Brands to accelerate market penetration.

Canopy size, superior product offerings and global reach will keep the company ahead of the game because legalization of medical and recreational marijuana continues to spread throughout the world, with France, Italy, Peru and New Zealand on the list of countries that are likely to be next to move .

The point

There are no Doubts that weed stocks are still very volatile, and today's profits can be quickly eliminated due to bad news. But if you are a long-term investor and want to save some marijuana stock in your portfolio, then Canopy must be one of them.

You might lose one of the biggest opportunities in Canadian investment history …

Cannabis was legalized throughout Canada on October 17, and a less-known Canadian company only opened what some experts said could be the key to profit from the upcoming boom of marijuana.

In addition to establishing key partnerships with Facebook and Amazon, they have just made a deal that changes the game with the Ontario government.

One grassroots company in Canada already started to introduce this technology to the market – which is why legendary Canadian investor Iain Butler thought they had a foot in the Amazon in a technological race once in a generation.

This is a company that we think you should consider strongly in your portfolio if you want to position yourself wisely to blast the upcoming marijuana.


Learn More About This TSX Stock Now


Stupid contributor to Haris Anwar has no position in the company mentioned.

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