Canopy Growth Corp is a Canadian cannabis producer, the biggest one in fact, which has been on a rampage of acquiring other Canadian licensed producers and cannabis businesses over the course of this year.
Their stock has went crazy this year, and there are solid reasons for that type of behavior.
The stock price was $3 about two years ago. Today, it closed at $18 on the TSX.
Canopy Growth Corporation has talent, money, and hype. The hard part comes in 2018. Can they grow and deliver marijuana to millions of new customers? Will they continue to be the #1 weed company on Earth?
In Q3 of 2017, their revenue was $191,000 per day. Let's see how quickly they can make that into an average of $1 million per day. It would be mighty impressive if they manage it by Q4 of 2018.
Revenue and market share matter right now. Profit can wait a few quarters.