10 Canadian Growth Stocks to Buy Now - 1 of 10

#1 - Canopy Growth (TSE:WEED)

Canopy Growth logo

Canopy Growth (TSE:WEED) CGC, like all cannabis stocks, has been hit hard for a variety of reasons. Most notably, the stock suffered when regulatory delays caused an oversupplied Canadian market. Canopy, specifically, suffered from rumors that the company engaged in channel stuffing. However, Canopy Growth stock is well-positioned to move higher when the market for selling edibles opens in October. CGC plans to bring edibles and cannabis-infused beverages by December. Canopy also looks to be a major player in the vaping market. However, it remains to be seen to what extent Canada will follow the United States in regulating this market. The real growth for Canopy, as with other cannabis companies, will come when full legalization becomes a reality in the United States. The marijuana industry is moving into an important growth phase that will be punctuated by mergers and acquisitions. Canopy figures to exit this stage as one of the major players in this market that some analysts see as a $100 billion or higher when full legalization becomes a reality.

About Canopy Growth
Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names.Read More 

Current Price: $23.63
Consensus Rating: Hold
Ratings Breakdown: 2 Buy Ratings, 4 Hold Ratings, 2 Sell Ratings.
Consensus Price Target: C$33.05 (39.9% Upside)

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