Canopy Growth Corp. (NYSE: CGC) disappointed investors with its quarterly earnings. In fact, investors were so "disappointed" by this one report they sent the entire cannabis sector tumbling.
That's the thing: Canopy's results mean essentially nothing at all for American marijuana companies - nothing for any company outside Canada, in fact.
It's no different than if, say, California-based PG&E Corp. (NYSE: PCG) shares tanked because Consolidated Edison Inc. (NYSE: ED) had a power failure in New York City.
But we're still in the early stages of legal cannabis' explosive growth potential; any one of these three stocks, for instance, could soar up to 1,000%.
Canopy led the sector down because investors are expecting results yesterday. And the results can be longer in coming than short-sighted investors might like.
So before you run out and sell all your Canopy shares, you need to see what I'm about to show you...
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About the Author
Greg Miller started working on Wall Street in September, 1987, just a month before the “Black Monday” stock market crash.
During his career there, he became an expert in just about every kind of publicly traded security - from blue-chip and small-cap stocks to municipals, junk bonds, and derivatives. As a portfolio manager, Greg was responsible for over $500 million of assets in mutual funds and insurance company accounts.
After leaving the Street, he designed a successful options trading strategy and made lucrative tech investments for a financial publication. He has also helped develop new products and worked with other editors to hone their strategies. He’s always been dedicated to deep, fundamental research - and he always will be - because he believes buying the very best companies at the right price is the best way to amass wealth in the stock market.
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