Stocks To Sell Now: Unload This Popular Icon Right Away

In 2020, that unmatched global footprint of Canopy's shrunk significantly when it shut down a number of its operations in Canada, the United States, Latin America, and Africa.

Look, it's late 2021 already. Canopy has had two years to turn it around, and it simply hasn't. Sales for the quarter ending June 30 were down 8%... at a time when sales for the broader cannabis market have continued to grow - from the first to the second quarter of 2021, legal cannabis sales grew 4.4%. The company is still burning through cash at an alarming rate.

The risk of owning CGC right now far, far outweighs any potential reward. Sell it at market today, before the close.

But... keep an eye on it; I know I will. For everything that's gone wrong over the past two years, Canopy is in the process of restructuring, shedding deadweight, and selling off redundant assets to try and rebuild its once-mighty cash hoard. Its June 2021 acquisition of the Supreme Cannabis Company Inc. (OTC: SPRWF) and, more to the point, Supreme's loyal customer following, could give it a better position in the market, given enough time.

1 2 3
View single page >> |

Disclaimer: Any performance results described herein are not based on actual trading of securities but are instead based on a hypothetical trading account which entered and exited the suggested ...

How did you like this article? Let us know so we can better customize your reading experience.


Leave a comment to automatically be entered into our contest to win a free Echo Show.