Fruit and vegetable producer CGC has been a shocking investment over the last 5 years with its share price plunging over 70% and now the grower of berries, tomatoes and mushrooms may be in the wrong place at the wrong time i.e. a lot of their produce could easily be called the luxury end of a shopping basket. However earlier this month MM wrote about how the company’s international operations were delivering strong results and we believe this is a turnaround story in the making, albeit for the brave.
- We like CGC into weakness but wouldn’t be chasing strength short term as the consumer tightens their belt.
- We’ve pulled back our buy level as the risks rise that consumers could abandon many of CGC’s products to save money.
MM likes CGC around $2.50.
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