GW Pharmaceuticals: Buy the Dip?
The markets are struggling of late, and while that might be suboptimal if you're holding stocks, it's a great opportunity if you're a buyer. Purchasing stocks at a reduced price can increase the potential returns you make over the long term. And with the S&P 500 falling more than 8% since the start of September, there are going to be some great bargains out there.
One that cannabis investors will want to take a close look at is GW Pharmaceuticals (NASDAQ: GWPH). The medical marijuana stock is trading at about $100 today. That's down from August, when it was comfortably above $130. With such a significant drop in the company's value, let's take a closer look at whether this stock is a deal or if it's destined to go even lower.
Before the drop in price, things were looking great for GW Pharmaceuticals. On Aug. 6, the U.K.-based company released its second-quarter results for the period ended June 30, in which sales of $121.3 million were up 68% year over year.
Source Fool.com
