Investors that added Canopy Growth Corp (NASDAQ:CGC) to their portfolio five years ago are seeing nothing but green in 2021.
Since August 2016, Canopy Growth stock's five-year return has outperformed a number of the world’s most popular tech and e-commerce companies: Ford Motor Company (NYSE:F), Alibaba Group Holding Ltd - ADR (NYSE:BABA), Facebook, Inc. (NASDAQ:FB) and Zynga Inc (NASDAQ:ZNGA).
Canopy Growth cultivates and sells medicinal and recreational cannabis and hemp through a portfolio of brands that include Tweed, Spectrum Therapeutics and CraftGrow.
Although Canopy Growth primarily operates in Canada, the company has distribution and production licenses in more than a dozen countries to drive expansion in global medical cannabis. It also holds an option to acquire Acreage Holdings upon U.S. federal cannabis legalization.
Here's how the returns break down from August 2016 to present:
- Ford is up from $12.50 a share to $13.05 for a return of 4.40%
- Alibaba is up from $99.25 a share to $162.29 for a return of 63.52%
- Facebook is up from $126.51 a share to $380.66 for a return of 200.89%
- Zynga is up from $2.72 a share to $8.88 for a return of 226.47%
- And finally, Canopy Growth is up from $2.95 a share to $16.90 for a return of 472.88%.