CGC Stock Forecast
The immediate future of the marijuana industry looks dour. With a correction just beginning, it’s likely that we won’t see significant gains from the industry until another large outside investment or some other breaking news turns the industry around. Despite the near-term outlook, however, Canopy Growth Corp (NYSE:CGC) remains a strong pick in large part due to the strength of the CGC stock forecast.
The fact is that there won’t be many safe havens in the coming drawback; there rarely is in an industry driven so much by hype and bluster.
In this case, however, CGC stock remains one of the best companies to hold on to during the fall.
First, the company is likely to experience fewer losses compared to its counterparts. Canopy Growth stock is well positioned to weather this storm due to its very impressive fundamentals.
This includes the largest Big Alcohol partnership to date with Constellation Brands, Inc. (NYSE:STZ), a lucrative connection that sees the company on the forefront of the very promising cannabis-infused beverage segment of the market.
The company also has a steady source of revenue by way of its multiple supply agreements across Canada, assuring investors that there will be a strong demand for the company’s products for years to come.
Meanwhile, CGC stock has expanded across the globe with operations setting up footholds in places like Germany and Australia, two of the most promising marijuana markets that are pushing for legalization in one form or another.
While they still may be years off, CGC stock is playing the long game—it’s a move that is almost sure to pay off big down the road when these markets do eventually open.
With all the momentum going in Canopy’s favor, investors will be hard-pressed to abandon it during this drawback. That doesn’t mean that CGC stock won’t experience losses during the correction, but those losses will be on the milder side compared to its immediate competitors.
And the recovery post-correction will likely see CGC stock bloom.
There are better short-term picks than CGC stock in the pot stock market, but few are as juicy in the long term.
Canopy Growth stock has the strength to both bear the brunt of this correction without taking significant damage while also being poised to make huge leaps in the bright future that awaits the industry following the drawback’s cessation.