Is $1 Billion in Sales in the Cards for Canopy Growth Corp (TSX:WEED)?

Early in 2019, two of my Foolish colleagues have already asked whether Canopy Growth (TSX:WEED)(NYSE:CGC) stock can hit $70 and $100 by the end of 2019.

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

... read more at: https://www.fool.ca/2019/01/13/is-1-billion-in-sales-in-the-cards-for-canopy-growth-corp-tsxweed/

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