Canopy Growth Corp (NYSE: CGC) Gets Better at Growing Cannabis, Will the Stock Benefit? - MJ Global Report
Connect with us

Featured Stocks

Canopy Growth Corp (NYSE: CGC) Gets Better at Growing Cannabis, Will the Stock Benefit?

Published

on

Canopy Growth Corp

In case you haven’t paid attention, the cannabis industry is slowly turning into a massive business right before our eyes. The industry generated almost $12.2 billion in sales last year across the globe.

Investors have pot stocks on their sights now, and one name that will surely stand out is Canopy Growth Corp (NYSE: CGC).

Canopy Growth Corp. is, at the moment, the world’s largest medical marijuana company operating 10 licensed cannabis production sites, four Tweed Main Street sites in Ontario, and operates in 11 countries across 5 continents.

Canopy Growth Corp Price Analysis

CGC price today.

It would be safe to say that CGC stock has indeed remained range bound (between $40 and $50) since the end of January. However, there’s a reason to believe that CGC stock could break out in the Q2 of the year.

For instance, the busy M&A month of April, as well as the progress in the tuck-in investments, could be catalysts driving the stock higher. Currently, CGC stock is priced at $46.87.

Canopy Growth Corp Overview

The company is world-leading diversified marijuana and hemp as well as offers distinct brands and curated marijuana varieties in dried, Softgel capsule, and oil forms. Also, it provides medically approved vaporizers via the company’s subsidiary, Storz & Bickel GMbH & Co. KG.

The firm also focuses on producing as well as selling cannabis in the recreational market in Canada. The core brands are Tweed and Bedrocan.

CGC Stock’s Developments

Like most pot stocks, CGC started the year with a bang taking a breather in April. It was among the big winners gaining at least 15% last month.

But the gain didn’t come easy. Canopy Growth had to dig deep with several developments already taking place.

The Canopy-Acreage Deal

The company has been aggressively adding to its capacity and boasts the most enviable cash. Last month, Canopy announced a massive $3.4 billion conditional buyout of the US cannabis producer Acreage Holdings (OTCMKTS: ACRGF).

The agreement involves CGC paying $300 million in cash up front and the remaining being financed with the company’s stock. A thing worth noting is, the deal is not valid until the US federal government legalizes pot.

At the moment, most investors viewed the deal as a significant win whereby Canopy has stated that getting into the US is the priority.

Was that the reason why the stock jumped 16.5%?

Last month, the shares of Canopy Growth gained 16.5%, and in general, they are up a whopping 82.7%. But yes, experts believe, the main catalyst was the announcement of the Acreage Holdings deal.

Again, Constellation Brands (NYSE: STZ)

Canopy’s partnership with the alcoholic beverage giant Constellation Brands gives it a competitive advantage, thanks to the $4 billion received from Constellation. Their partnership is to develop Cannabidiol (CBD)-infused beverages that are expected to be legal in Canada at some point this year.

Furthermore, Canopy plans to use the small fortune in making complementary acquisitions, broadening the product portfolio as well as enter the lucrative U.S. market.

In January, the company was also awarded a hemp production as well as processing license in New York State. Also, it announced plans of investing $150 million in developing a processing plant in the Empire State.

In short, Canopy Growth Corp plans to remain very aggressive with its cash hoard.

Now What?

For any investor looking for exposure to a fast-growing cannabis space, Canopy Growth stock should undoubtedly be on the watch list. The stock’s valuation is undoubtedly sky-high, and with much growth already priced in, you should have a long-term outlook.

Therefore, with the slew of announcements about new partnerships, geographical expansion, and new ventures, it should be easily said that it’s showtime for the most extensive pot stock in the world.

For the latest updates on CGC and the hottest MJ stocks, sign up below!

Disclosure: We have no position in any of the securities mentioned and have not been compensated for this article.

Photo by James Wheeler from Pexels

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Featured Stocks

CBD-infused Coffee is taking the World by Storm and GenTech Holdings (OTC: GTEH) is Set to Capitalize on this Emerging New Trend…

Published

on

OTC: GTEH

There’s a new player in the high-end CBD food and drinks marketplace that is going widely undetected on Wall Street… 

Trading at just pennies, GenTech Holdings (OTC: GTEH) may quickly become a leading household name in the fast-growing CBD arena!

Coffee… It’s more than just a drink it’s a way of life for many people and the latest craze is adding Cannabidiol (CBD) to it. CBD-infused coffee is popping up on menus across the globe.

Some may be surprised that it took this long for CBD-infused coffee to become relevant in the market considering the long list of health benefits that the marijuana component promises to offer. 

CBD has become incredibly in demand due to its lack of intoxicating effects (NO THC!) and a possible lower potential for side effects next to many medicines out there. 

All kinds of consumers, from athletes to even baby boomers, are recognizing CBD as a wellness product for ailments which include anxiety and chronic pain. CBD has also been used as a treatment for serious conditions such as cancer and epilepsy.

For the marijuana enthusiast who loves coffee, CBD-infused coffee is a brilliant and delicious invention. We all know what Starbucks did for coffee. The coffee powerhouse is one of the biggest known brands when it comes to java.

The way that Starbucks transformed coffee from a commodity to Continue Reading

Featured Stocks

Two Hands Corporation (OTC: TWOH) Has Discovered the Road to Massive Profits in Both the Legal CBD Arena and the App Industry!

Published

on

OTC: TWOH

Two Hands Corporation (OTC: TWOH) may soon be helping investors get one up on on the market as the stock emerges onto Wall Street’s radar…

There is no denying that some of the most successful companies trading on Wall Street are those that are involved in more than one thing. 

Take for instance, Facebook and Amazon — two giants on Wall Street. 

Amazon has been known for threatening many industries through competitive acquisitions and by creating new products and services.  Facebook has branched out from only social media and now has ventures in artificial intelligence and even announced its own cryptocurrency recently!

Two Hands Corporation (OTC: TWOH) is following the cue of these blue-chip dynamos by establishing a presence in TWO massive markets!

Trading at only pennies, here is a company that has a legal CBD venture and two apps that may soon be downloaded by millions…

There may NEVER be a more opportunistic time to see what this company is doing!

Two Hands Corporation (OTC: TWOH) is an organic hemp-based CBD cultivator that strives to offer the highest quality CBD extract derivatives to be exported under Two Hands CBD Lab brand. 

As an application development company, Two Hands Corporation (OTC: TWOH) has an app called “Two Hands,” launched in July of 2018, that is an ideal solution that will reduce the stress and worries of co-parenting. “

The company’s “Two Hands Gone” app allows…

Continue Reading

Featured Stocks

GenTech Holdings (OTC: GTEH) is one of the hottest Under the Radar CBD plays you will want to watch closely this year!

Published

on

OTC: GTEH

The same way that Starbucks changed coffee culture is the way GenTech Holdings (OTC: GTEH) may soon transform cannabis culture and become one of Wall Street’s winning darlings!

We’ve all heard of Big Tobacco and Big Pharm, but there’s another big arena capturing major attention on Wall Street and that’s Big Marijuana…

Marijuana use in America is high and getting even higher and support for legalization is also at an all time high. Legal spending in cannabis hit the $10 billion mark in 2018 and is set to break the $12 billion mark this year.

We are very much in a “Green Rush,” which is the term used to describe the burgeoning legal marijuana industry. Savvy investors have been on the look out for small-cap companies within the space that have potential to become the next big board winners.

The way that Starbucks transformed coffee from a commodity to a culture, is the way GenTech Holdings (OTC: GTEH)may be soon be revolutionizing cannabis and creating a nationwide watering hole for marijuana enthusiasts to feel at home with!

GenTech Holdings (OTC: GTEH) is an emerging leader in the high-end CBD food and drinks marketplace.

The company is creating a national chain of Hemp Centric Coffee Shop Retail Spaceswhere patrons…

Continue Reading

Enter Symbol For Report



MJ Stocks