The article discussed the enthusiasms and some skepticism around marijuana stocks.
“Canopy Growth, the country’s largest licensed producer (LP). In September, its stock was trading at around $10 a share. By the middle of January, that shot up to more than $40 a share. The company’s market cap, the value of all its shares, is now over $5 billion.” The article stated.
While some are worrisome of an “oversupply scenario” and some of big companies controlling major, Indiva isn’t too worried. Niel Marotta, the CEO of Indiva said that the types of valuations that some companies are seeing relative to their actual sales numbers are unsustainable and these stocks definitely got ahead of themselves. He also mentioned that the returns were good.
“Indiva and companies like it will only succeed by creating products that go beyond dried flower, oils and simple edibles rather than trying to compete directly with larger LPs.” Neil Marotta told Now.
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