Former $19 billion cannabis giant now facing zero stock value
Canopy Growth, a cannabis company once worth billions, is now facing serious problems. Analysts believe its stock could eventually become worthless.
The company's shares have been falling for two days, raising concerns about its financial situation. An analyst even lowered the price target for the stock to zero. The company's stock has dropped by 78% this year due to tough competition in the marijuana market and slow progress on US federal legalization. Its market value has significantly declined, leading to its removal from an important index.
Despite trying to expand in the US, where marijuana is still federally illegal, the company's future remains uncertain. Overall, the company is facing major challenges, and analysts are doubtful about its chances of recovery.