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Showing posts from September, 2018

Trade Initiation: Canopy Growth Corporation (CGC)

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Last week I bought an initial position in Canopy Growth Corporation at a share price of $50.  This company is an early entrant to the Canadian Pot industry as a producer of both medical and recreational marijuana, a new market that opens up the first of October, now that the country has legalized it. Pot stock have been hot - really really hot.  There's no doubt that many of them, Canopy probably included, are over valued right now.  While I was looking to speculate there's a lot of publicity in this area right now.  I would say that I felt Canopy was one of the better stocks, though we all know there's another out there that has been surging in astronomical proportions due to shortage of stock availability.  The nice thing about Canopy is that they're adequately capitalized and won't likely look to raise cash through offering more shares.  However, there are a lot of other companies out there that will need to and even more that will be looking to go public and ca…