Based on market capitalization, Canopy Growth (NYSE: CGC) is currently the largest cannabis company in the world with operations in 12 different countries over 5 continents. Canopy expanded its places of cultivation to include Germany, the Czech Republic, Denmark and Spain, increasing its reach into the European market. It has also advanced the development of medical marijuana in South America and has expanded into Africa, becoming Africa’s largest investment from a major foreign producer yet.
The company started as a producer of medicinal cannabis, but has shifted more towards recreational marijuana, which nearly quadrupled Canopy’s revenue over the past year. Canopy has recognizable brand-name products, fleshed-out partnerships, and strong international exposure, yet has seen a decrease of more than 65% in stock price over the 7 months. It’s stock’s stretched valuation has crumbled due to cannabis legalization delays and an array of cash burn, margin, and profitability concerns.