This Is Why Canopy Growth Is the Best Pot Stock
by Luke Lango
In addition to being the biggest player in the industry, CGC stock has long had one thing that no other cannabis company has — $4 billion in cash from Constellation Brands (NYSE:STZ).
In mid-April. Canopy struck a deal with major U.S. cannabis operator Acreage to buy that company for $3.4 billion once cannabis is legalized nationwide in the U.S.
Canopy is the star player in the legal Canadian cannabis market. But the Canadian market is peanuts. The big deal here is the U.S. market. Depending on who you ask, that market is about tenfold the size of the Canadian market.
It positions the company to fully capitalize on the $100 billion U.S. cannabis market from the onset.
The nationwide legalization of cannabis in Canada in late 2018, turned the big four Canadian pot stocks — Canopy, Aurora (NYSE:ACB), Tilray (NASDAQ:TLRY) and Cronos (NASDAQ:CRON) — from relatively unknown companies to Wall Street household names with multi-billion dollar market caps.
Source: Investor Place
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