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Canopy Growth Next $100B+ Company?

 

CGC, Canopy Growth Corporation

$15 Billion Canopy Growth is leading the way in Cannabis industry.

Released on Friday, March 22, 2019, 11:25 AM ET
by Email Russ UrbanContact SpeculatingStocks



Pittsburgh, PA (SpeculatingStocks) - Canopy Growth Corporation (NYSE:CGC) is currently the largest publicly traded cannabis-related company with a market cap of over $15 billion. In fact, Canopy Growth is in a category all to itself with Aurora Cannabis (NYSE:ACB), GW Pharmaceuticals (NASDAQ:GWPH), Cronos Group, Inc. (NASDAQ:CRON), Tilray, Inc. (NASDAQ:TLRY) all trading at market caps of less than $10 billion.

Leader status by Canopy Growth gives the company an advantage to access capital that it can use to grow within fast growing legal cannabis industry. It also allows them to gobble up competitors as need be. Canopy Growth has $4.1 billion in cash on its balance sheet with only $18 million in short and long-term debt. This is a massive amount of cash to grow to the $100 billion+ level.



In November of last year, Constellation Brands (NYSE:STZ) invested $4 billion into Canopy Growth. This gave Canopy Growth clear leadership position in the cannabis market. It also gives Canopy Growth a clear business partner in Constellation Brands that has their back and also gives Canopy Growth access to the beverage market through Constellation Brands. These are several major advantages that puts Canopy Growth in position to becoming the first $100 billion cannabis company in the long-term.

CGC stock has been consolidating since late-January. Shares of CGC currently look attractive with the stock trading right around its 50-day moving average of $45.59. On its next run it would not be surprising to see CGC spring to new all-time highs above $59.25. Canopy Growth has significant growth prospects ahead. There will be consolidation of the cannabis sector and Canopy Growth has the upper hand.

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⇒ About the Author of this News Article:

Russ Urban has been following the stock market for over 18 years and holds a Bachelor's Degree in Finance. From a young age, he watched CNBC with a keen eye and became obsessed with the market and technology. Russ Urban has written hundreds of stock articles and stock picks through the years since he founded SpeculatingStocks.com, Inc. in 2006 and holds strong faith in the power of the markets and capitalism.

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