Should Philip Morris International Inc. Buy Canopy Growth Corp.?
There are currently eight U.S. states, including California, where the use of both recreational and medical marijuana is totally legal. A bunch more allow for the use of medical marijuana; it’s a given that more states will legalize recreational use in the future. And why not, when 60% of Americans and 70% of Canadians feel it should be legal?
It’s a big reason why Canopy Growth Corp. (TSX:CGC) stock has risen exponentially over the last three years—up almost 500% on an annualized basis. Everyone on Bay Street is talking about CGC stock with good reason; it has the potential to be a dominant player in the growing and distribution of marijuana both in Canada and elsewhere.
I’ve long held the belief that as soon as the U.S. federal government legalizes the recreational use of marijuana and removes it from the list of Schedule 1 drugs, which includes heroin and LSD, big tobacco...
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