Wall Street Sees Canopy Growth Stock Falling 16%. Should You Buy the Dip?
Per the average estimate of Wall Street analysts, Canopy Growth (NASDAQ: CGC) stock isn't going to be a strong performer during the next 12 months, and it's forecast to lose 16% of its value. The Canadian marijuana cultivator is down almost 70% so far this year, so the gloomy outlook implies a continuation of tough times.
But it's worth noting that if the analysts are in the right ballpark, the stock's rate of decline will soon be much slower than it has been. That might mean that a true turnaround is just over the horizon. So is this a stock investors should be preparing to buy the dip with, or is it better to stay away?
For Canopy Growth to be worth buying on the anticipated dip over the next year, it would need to satisfy a few conditions. The first of those is consistent top-line growth.
Source Fool.com
