Canopy Climbing far beyond its 52-week low of $9.00, Canopy Growth Corp. (NYSE: CGC) is still worth a close look this quarter. For bargain investors, there’s potential for an upside, and recent momentum indicates that there’s positivity in the cannabis market today.

Canopy Growth is a cannabis producer that engages primarily in the medical market. Based in Canada, the stock is often seen as a benchmark for the wider industry. Like many of its high performing industry peers, this company has seen rapid revenue growth in the previous five fiscal years. In 2019, revenue was up 190%, while gross income increased 18.35%, leaving the company with a gross profit margin of 12.99%.

A new quarterly earnings report is due on Friday, and analysts are confident that revenue will be up year over year. With strong brands and a healthier balance sheet than most of the smaller cannabis stocks, this is one to consider for 2020.

Looking at the most recent peak of $44.26, as well as the 17.54% stock growth over the last five days, shares still have room to grow. For alternative investors, paying beyond the bargain barrier makes sense with this momentum pick.

Key Data:

  • 1 Year Price Growth: -52.82%
  • YTD Price Growth: -5.64%
  • 3 Month Price Growth: 92%

 

All information is based on current and historical market data, as well as publicly available financial data. As with any financial decision, your own research is important. Stock market outcomes can never be 100% accurately predicted. Familiarity with historical data, individual industries, and individual stocks is key to developing a robust portfolio. Note that stock prices can fluctuate rapidly during trading sessions.