Canopy Growth: Penny Stock Purgatory -- or Cannabis Rebound in the Making?
The turnaround is becoming more believable.
Overview
Canopy Growth (NASDAQ: CGC) has spent the better part of the past five years destroying shareholder value. The stock is down more than 99% from its all-time high. The company has burned through billions of dollars, diluted shareholders repeatedly, exited non-core businesses, and cycled through multiple restructuring efforts. So why is it even worth discussing?
Today's Canopy looks very different from the company that chased global expansion at any cost. It's worth taking a closer look to see if the business has finally reached a point where the fundamentals are beginning to improve.
Details
For years, Canopy tried to be everything at once. It invested heavily in production capacity, acquired companies around the world, launched consumer packaged goods, entered the sports nutrition business through BioSteel, and spent aggressively on U.S. cannabis options.
Source
Originally published at www.fool.com.