Cannabis Growers’ Stock to Continue Along the Upward Path on Investors’ Optimism
Canopy Growth (СGC) has been the sector’s top performer, as its stock had jumped up by more than 80 percent over the first three weeks of January and skyrocketed by 10 percent last Friday on news that major stock analysts had boosted their views on the cannabis company.
The news that really bolstered Canopy Growth stock was the grower’s management’s announcement of the company’s having received a license by the state of New York to grow and process hemp. Now the cannabis producer is set to invest somewhere between $100 million and $150 million into its New York-based “hemp industrial park” where cannabis research and production operations will be combined.
Given the investors’ optimism, the cannabis stocks are likely to continue climbing to higher levels. The financial scouts forecast that Canopy Growth (СGС) might climb to $50, and Tilray might grow to $77, while Aurora Cannabis Inc (ACB), Aphria Inc. (APHA) and Cronos are predicted to be priced up to $7, $7.5 and $17-$18, respectively.
Ivan Marchena, Libertex Analyst
The Financial Services Centre, P.O. Box 1823, Stoney Ground,
Kingstown, VC0100, St. Vincent & the Grenadines
Libertex is an international brand with a twenty years history in financial markets and online commerce. Libertex provides investors with access to trading stocks, currencies, indices, commodities, gold, oil, gas and many other financial instruments. The Libertex team has more than 2,200,000 customers in Latin America, Europe and Asia owing to its first-class service. Libertex has more than 150 commercial instruments. In 2016, Libertex was recognized by Forex EXPO Awards as the best trading platform; and Global Banking and Finance Review named it the best trading application in the EAEU. Libertex is the best trading application and the best crypto currency broker according to Forex Awards 2017.
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