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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…
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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