Canopy Growth CEO says 'entirely true' cannabis 'has become frothy'
In an interview last Thursday with Yahoo! Finance, Canopy Growth (CGC) CEO Bruce Linton stated: "I think it's entirely true that cannabis has become frothy and I'm not saying that necessarily specifically about our [shares]," but you could list 85 or 90 companies that are probably publicly listed that I as the operator of one of the first and most dominant [ones] have never heard of those companies. I think you're going to find that the bubbles break with the small ones first because there's not actually a probability that they're going to put a billion dollars of revenue up or that they're going to have a major scientific breakthrough or they're going to have a 30% market share. And so the problem is retail investors hear marijuana and they think that those must be all good stocks and then they look at it and say well that one's only priced at $2 a share...and so people may find themselves not in a great spot if they don't pick, so you're going to have to make investments in things like Canopy and then decide how much of your money do you want to bet on the other ones." Other publicly traded companies in the space include Aphria (APHA), Aurora Cannabis (ACB), CV Sciences (CVSI), CannTrust Holdings (CNTTF), Cronos Group (CRON), General Cannabis (CANN), India Globalization Capital (IGC), MediPharm Labs (MLCPF) and Tilray (TLRY). Reference Link CGC ACB TLRY CVSI CRON CANN CNTTF APHA MLCPF IGC