Even with the stock’s 32% gain over the past five days, it’s still 40% away from $70 and 100% from $100. Given the volatility of WEED, it could just as quickly decline 32% over the next five days, making it impossible to predict.
What we do know is that incoming Constellation Brands (NYSE:STZ) CEO Bill Newlands believes that Canopy Growth can reach its target of $1 billion revenue run rate within 18 months.
Here’s what he said in Constellation’s Q3 2018 conference call:
Canopy continues to focus on intellectual property development across medical and recreational opportunities while also preparing and creating brands and products for new, legal recreational cannabis markets