The 16 analysts offering 12-month price forecasts for Canopy Growth Corp have a median target of 31.16, with a high estimate of 43.70 and a low estimate of 16.51. The median estimate represents a +27.92% increase from the last price of 24.36.
Canopy Growth can “afford” to remain unprofitable in the near term, as it ended CY 2020 with $825 million in cash, compared to its cash balance of $1.3 billion at the end of fiscal 2020. ... Canopy Growth also has close to $800 million in short-term investments that can be sold to improve its liquidity position.
Based on this, the answer is no -- Canopy Growth won't run out of money anytime soon. While the decision to sell more shares may raise eyebrows, it is not a reason for investors to panic.
In August 2018, Constellation Brands – an American beer, wine and spirits producer with global markets – announced its investment of an additional C$5 billion (US$3.8 billion) in Canopy Growth, giving it 38% ownership of the company, up from the previous 10%.
Aurora, meanwhile, has to significantly improve its financials not only so it can stop relying on new share issues to raise money, but to be able to fund new growth initiatives, such as U.S. expansion. Canopy Growth is the safer buy today, and it's also in a better position to grow over many years.
CGC stock falls in the fundamentally strong stocks category. So let the dust settle, then buy the dip, and hold for what should be a breakout 2021.
Most analysts rate Canopy stock as a “hold.” According to data from Tipranks, the average price target is $37.30. SimplyWall.st is bullish. ... Article printed from InvestorPlace Media, https://investorplace.com/2021/02/sell-cgc-stock-now-buy-back/.
| Stocks with the Most Momentum | ||
|---|---|---|
| Price ($) | Market Cap ($B) | |
| L Brands Inc. ( LB) | 67.44 | 18.8 |
| Tesla Inc. ( TSLA) | 694.40 | 666.5 |
| Freeport-McMoRan Inc. ( FCX) | 39.35 | 57.6 |
Canopy Growth Corporation does not currently pay a dividend and has no current plans to introduce one in the future. Does Canopy Growth Corporation offer a Dividend Reinvestment Program (DRIP)? As Canopy Growth Corporation does not currently pay a dividend, the company does not offer a DRIP.
Canopy Growth produces, distributes, and sells medical and recreational cannabis. Recreational-use cannabis is the company's biggest source of revenue. ... The company opened 305 new retail stores in Canada during Q3 FY 2021.
Open and fund an account with a broker who has access to NYSE or TSX stocks to buy shares of Canopy Growth.
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How You Can Buy Canopy Growth Stock Right Now
Canopy is also crippled by existing banking regulations that exclude cannabis companies from receiving financial services presently. This has made the company's U.S. expansion more difficult than many of its peers such as Curaleaf Holdings (OTC:CURLF), a leading U.S. cannabis company.
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