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Markets · Investing · Business
Finance
Why Rescheduling Might Not Move Canopy Growth's Stock as Much as You Think
Canopy Growth is a marijuana stock, but U.S. regulations aren't the main driver of its business.
Canopy Growth(NASDAQ: CGC) is one of a handful of marijuana stocks that were all the rage early on as investors thought pot would be a huge growth market. Pot demand has grown dramatically, but marijuana stocks didn't live up to the early hype. But will that change if the classification of marijuana changes at the Federal level in the United States? Not for Canopy Growth, here's why.
Marijuana has been legal to use in an increasing number of states. Some have focused on medical use, while others have gone all the way to legalizing recreational use. That opened the way for companies to grow and sell marijuana.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.
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