Canopy Growth Corp. (TSE:CGC) has offered to acquire Toronto-based Mettrum Health Corp. (CVE:MT) for $430 million, forming a Canadian marijuana mega-company with a patient base that would dominate the Canadian market.
But before you get ahead of yourselves, know that the Canopy’s underlying fundamentals have completely decoupled from the stock’s incredible market cap. Currently, analysts are forecasting the pot market to hit estimated peak sales of $5-8 billion in 2020 and beyond (including recreational and medicinal); that’s if legalization goes off without a hitch.
TORONTO — Volatile share prices of Canada’s publicly traded marijuana companies triggered numerous circuit-breaking halts in trading Wednesday as buzz surrounding the nascent sector pushed valuations to record intraday highs.
