RE:RE:Canopy Press Release - New Product Line LaunchBy far the worst day for Canopy in awhile.All momentum was bullish. What happened? Surely, a strong job report and therefore no interest rate cut near term, as nothing to do with a Cannnabis stock. Very disappointing.
I think it is pretty simple. This company is bankrupt without US legalization. I think everyone can agree with that. Therefore, the question is when or if they will finallly legalize nationally. If you are investing in Canopy you are basically taking an option on legalization.
My view is they will legalize next year after the election. Biden is not a supporter of marijuana and Trump will vote in favour only if he personaly benefits. So we are in pergutory until then.