Canopy Growth Stock Is the Best Coronavirus Cannabis Play

Canopy Growth Stock Is the Best Coronavirus Cannabis Play

Cannabis stocks have not been immune to the market selloff. In fact, Canopy Growth Corp (NYSE:CGC) stock has lost two-thirds of its value in the past six months.Source: Shutterstock But while the outlook has gotten tougher for Canopy in recent months, it is still the best option for cannabis investors today. The rough patch for cannabis stocks may not have reached its low point just yet.But Canopy's management is making all the right moves to ensure the company is well-positioned for the eventual recovery.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIn the meantime, Canopy has the strongest balance sheet of its peers. In addition, if the share price continues to decline, Canopy could be an appealing buyout target for minority investor Constellation Brands (NYSE:STZ, NYSE:STZ.B). Canopy Is Making the Right MovesLast year, Canopy fired founder and co-CEO Bruce Linton and replaced him with former Constellation CFO David Klein. Klein...

When the Smoke Clears, Canopy Growth Stock Will Be a Winner

The selloff in the market and in Canopy Growth (NYSE:CGC) stock both continue. Markets plunged again earlier this week, and Canopy stock hasn't been immune to the selling pressure. Now, shares trade back where they did in 2017.Source: Jarretera / Shutterstock.com As I've argued over the past few weeks, investors need to keep their cool. This selloff has not been easy and certainly has not been fun. But over time, the economy and the markets will recover.In the meantime, however, the volatility is dispiriting. However, as I've told subscribers of my Cannabis Cash Weekly service, in these environments investors sometimes have to step back and let the chaos play out.InvestorPlace - Stock Market News, Stock Advice & Trading TipsTaking that step back, the opportunity in CGC stock becomes more clear. The long-term growth opportunity in cannabis is delayed -- not eliminated. Canopy is the industry's leader, and should remain so. In...

Be Greedy With Exxon Mobil Stock While Others Are Fearful

With fear dominating in the market, it's time to be greedy. In particular, it's time to be greedy in sectors and stocks that are more sensitive to sharp economic downturns. I recommend starting with Exxon Mobil (NYSE:XOM) stock.Source: Michael Gordon / Shutterstock.com XOM stock touched a 52-week high of $83.49, but it now trades over 60% lower at $33.The downside has been in-sync with the massive plunge in oil prices. Even with bearish sentiment prevailing, I believe there are still reasons to consider accumulating shares.InvestorPlace - Stock Market News, Stock Advice & Trading TipsTwo events triggered the collapse in oil prices. First, Saudi Arabia launched an oil price war and it's likely to result in oversupply of oil in the markets. Second, as the coronavirus from China spreads globally, the world economy could plunge into recession. On one hand, supply is increasing and on the other hand, demand has declined.After discounting...