RE:RE:RE:RE:Pure Speculation: Canopy way over-valuedThere's some parallels to Tesla for sure. IMO it's more like a speculative mining stock. There's a clear pattern there. Massive bubble once news breaks on the discovery (legalization in this case). A drop afterwards then slow legitimate growth once profits start roling in.
Canopy will follow a similar pattern. We're in the bubble/mania stage right now. Full disclosure: I'm a Canopy shareholder. Or I was, I bought most of my position below $10 and sold last week. I'll rebuy once it gets to realistic numbers.
Now the $5/gram valuation is crazy. That will probably hold for the first year or two after legalization but large outdoor farms will produce weed at very cheap prices. For those who don't think that is going to happen, get your head out of the sand. The fancy indoor facilities that are the norm right now are cool and produce a good product but mass-produced outdoor weed will happen.
As for the recreational market size? Nobody can possibly have reliable numbers on this. Pot has been illegal since the 1920s. You're never going to get reliable numbers on something that is illegal. How many cocaine users are out there? Who the hell knows? I don't and neither do you.
Right now CPG is trading at a P/E ratio of something like 430:1. Hmmmmm, let that sink in for those that think these prices are justified. Yeah I know we're speculating on the post-legalization value but nobody knows what that is.