Canopy Growth (TSX:WEED)(NYSE:CGC) is one of the largest pot producers in the world. It’s no secret that people who invested early on in the company are delighted right now. Everybody already knows this, but you must be wondering exactly how wealthy early investors would be, right?
Today we’ll look at how much money you would have made if you had invested $10,000 in Canopy five years ago.
Massive growth in the past five years
Canopy is a company that saw many changes over the past five years. At the time of inception, Canopy was a small company with a small market cap and few employees. The company had one incredibly bold objective in mind at the time: to become Canada’s leading weed company.
As far as the past half-decade is concerned, we can see that Canopy succeeded in becoming a top pot company in the country. Canopy Growth has everything sorted out for itself.
The company has a comprehensive set up, which includes everything from the point of production to finished products sold in retail stores to the end consumer.
Canopy Growth is a well-reputed brand right now and rightfully so. The company’s management never took the time to slow down efforts for continued growth in what could become one of the largest industries in the world. Canopy focuses on growth and innovation, and is always looking for ways to achieve more.
A top-performing stock
Canopy’s success aligns with the overall performance of the marijuana industry. Over the past half-decade, no other company has performed as well as Canopy Growth.
At the time of its launch, medicinal marijuana was legal in Canada. Investors who got a piece of the pie most likely got in because they saw the long-term potential of medicinal pot.
Nobody could have predicted that Prime Minister Justin Trudeau would legalize recreational marijuana after his election. October 17, 2018, saw Canada legalize adult-use cannabis and the industry skyrocketed. Companies like Canopy could not have been happier.
Canopy five years ago
On September 22, 2014, Canopy Growth shares were worth $2.33. At the time of writing, a single stock from Canopy goes for $34.92, an increase of 1,398.7% in value within the space of five years.
Let’s take a look at how much wealthier you would have been had you decided to invest $10,000 in the company on September 22, 2014. With an annual return, Canopy Growth would have turned a $10,000 investment into a remarkable $136,935.17.
Will something similar happen again?
Nobody can usually predict anything about the stock markets with much, if any, accuracy, but such an increase will likely not repeat itself. I feel that Canopy Growth could be a decent investment option for you to consider right now. Cannabis 2.0 is right around the corner, and the industry is gearing up for another jump.
While Canopy might not provide you with the astronomical returns witnessed five years ago, the company has much to offer in terms of growth in the coming few years.
