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Home Canada

Cramer Says Canopy Growth is Waiting on Catalysts

Steven Lachard by Steven Lachard
August 8, 2018
in Canada, Investments, Marijuana Stocks, Trading
Jim Cramer Giving High Fives
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Widely viewed as an update to Jim Cramer’s July 24th opinions on pot stocks, last night’s episode of CNBC’s Mad Money, left one cannabis stock with a bearish outlook. With thousands of viewers tuning in to watch, we that believe Cramer’s opinions can tend to be market-moving (even if they’re wrong).

In the lightening round segment of the show, Cramer gave his opinions on four widely known stocks. While three of the stocks he mentioned have nothing to do with the marijuana industry, Canopy Growth Corp. (NYSE:CGC) (TSX:WEED) is very much a pot stock with over 2.4 million square feet of cannabis production capacity.

Cramer Thinks Canopy Needs a Catalyst

As Seeking Alpha Editor Mohit Manghnani reported, Cramer thinks that Canopy Growth “went up on the Canadian vote to legalize recreational marijuana. Now that the vote is done, the stock will be under pressure till they come out with beverages, candies, food and chewing gum. Once that happens, the stock will move again.”

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Tags: Canopy Growth Corp.Jim Cramerlicensed producerLightening RoundMad MoneyNYSE:CGCTSX:WEED

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Steven Lachard

Steven Lachard

Steven Lachard is a staff writer for MJobserver.com with a particular focus on marijuana stocks. Beyond MJobserver.com, Steven's pot stock insights have been featured on TalkMarkets.com and more.

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DISCLAIMER: DMO Holdings Corp., which owns The Daily Marijuana Observer™ (MJobserver.com), is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. DMO Holdings Corp., which owns MJobserver.com, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. DMO Holdings Corp. or its affiliates, which owns MJobserver.com, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two.

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