Market corrections can be unsettling, especially when a stock that was once a high flyer suddenly tumbles. Canopy Growth (TSX:WEED) on the TSX is a prime example. Once the poster child of Canada’s legal cannabis industry, the TSX stock has taken a beating over the years. Investors are now left wondering whether it’s a bargain or a falling knife. So, let’s look into the TSX stock and see what we can find.
What happened
Canopy Growth was founded in 2013 and quickly became a leader in the cannabis industry. It was among the first companies to receive a federal license to cultivate and sell cannabis in Canada. When Canada legalized recreational cannabis in 2018, Canopy Growth was at the forefront, making big moves, including a high-profile investment from U.S. beverage giant Constellation Brands. By 2019, it was the world’s largest cannabis company by market capitalization, with investors betting on its…
