Inside only a few months, marijuana companies became both a revolution and an unmitigated disaster. Canopy Growth (NYSE:CGC) perfectly demonstrated this wild ebb-and-flow. Last August, CGC stock skyrocketed nearly 72%. But since mid-October, shares melted down, eventually returning to break-even.
As things currently stand, Canopy Growth stock presents an intriguing opportunity. On the positive front, CGC benefits broadly from groundbreaking legislative momentum. In 2016, a record number of states voted for legalization to varying degrees. Two years later, several more states joined in on the action.
But on the flipside, marijuana stocks operate largely on potential. Depending on timing, this has resulted in untold riches for speculators and steep losses for those who held too long. Plus, in this market environment, relatively few people have the mood to gamble.
Still, with shares roughly half off from its closing high, it’s worth considering all angles. Here are three pros and three cons for
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