Canopy Growth (CGC): One of the Best Pot Stocks to Invest in According to Analysts

Florida has disappointed cannabis investors and consumers and it has had an impact on cannabis stocks. One of the first cannabis ETFs, Amplify Alternative Harvest ETF, has plunged over 45% since November 4, as of December 23.

​​You can also visit and see 12 Cheap Chinese Stocks to Buy According to Hedge Funds.

A close-up of a distribution center, with stacks of boxes ready for delivery of cannabis products.

To collect data for the 10 best pot stocks to invest in according to analysts, we scanned the lists of cannabis stocks and ETFs on the internet. We shortlisted the pot companies and ranked the 10 best pot stocks to invest in according to analysts’ upside (at least 25%), as of December 23, 2o24.

Why do we care about what hedge funds do? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).

Share Price (As of December 23): $2.83

Analyst Upside: 62.40%

Canopy Growth Corporation (NASDAQ:CGC) is one of the early Canadian Cannabis firms to begin operations. Canopy Growth is involved in the production, distribution, and sale of cannabis and cannabinoid-based products for both adult use and medical purposes.

Canopy Growth Corporation (NASDAQ:CGC) has expanded its business across Europe and Australia and has improved its cost structure. In Poland and Germany, the company has achieved swift growth driven by increased sales in the medical business and vaporizer products. Canopy Growth’s Germany-based Storz & Bickel business, famous for premium high-margin devices such as the Volcano and Venti, posted an overall net revenue growth of 32% year-over-year during the second quarter of fiscal 2025. The brand also experienced a sharp surge in the US, led by increased orders from new distribution partners.

The cannabis firm is penetrating into the US market and the acquisition of Acreage, a multi-state operator of cannabis cultivation and retailing facilities in the country, will allow Canopy Growth Corporation (NASDAQ:CGC) to reach a wider consumer base. Canopy Growth is well placed in the US market to accelerate growth with its brands including Superflux, Jetty, Wana, The Botanist, and now Acreage. In the US, the company’s major emphasis remains on the Midwestern and Northeastern markets.

Overall, on the international front, Canopy Growth Corporation (NASDAQ:CGC) is doing well. During Q2 FY25, international sales grew by 72% year-over-year in the high-margin European markets, mainly driven by Kincardine GMP cultivation. In Poland, the company’s revenues grew 200% year-over-year. Although CGC suffered a net loss of $820,000 during Q2 FY25, it is still less than the 37% net loss incurred in the same period last year. CGC is well placed in the North American market and is equipped to meet the rising demand in the high-end European market, making it one of the best pot stocks to invest in.

Overall, CGC ranks 9th on our list of Best Pot Stocks To Invest In According to Analysts. While we acknowledge the potential of CGC to grow, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CGC but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.