Connect with us

Featured Stocks

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



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

Featured Stocks

Forget APHA and ACB, Buy GTBIF and TCNNF




There are a lot of misconceptions going on when it comes to US legalization. Many investors are buying Aphria (APHA) and Aurora Cannabis (ACB) hoping to bank on what’s happening in the US. However, they are Canadian Licensed Producers and have no business in the US. Investors are buying them because they trade on the major exchanges, but that is the wrong move. The correct move is to buy the US multi-state operators like Green Thumb Industries (GTBIF) and Trulieve Cannabis (TCNNF).

On Election Day voters in New Jersey, Arizona, Montana and South Dakota voted to legalize recreational marijuana. South Dakota and Mississippi voters also approved measures to legalize medical marijuana.

There’s also the prospect of a more pot-friendly White House with President-elect Joe Biden. Vice Presidential Candidate Kamala Harris said at the debate a Biden administration would decriminalize marijuana at a federal level and expunge criminal records of people with marijuana-related offenses.


Green Thumb Industries Inc. (“Green Thumb”), a national cannabis consumer packaged goods company and retailer, promotes well-being through the power of cannabis while giving back to the communities in which it serves.

Green Thumb manufactures and distributes a portfolio of branded cannabis products including Beboe, Dogwalkers, Dr. Solomon’s, incredibles, Rythm and The Feel Collection.

The company also owns and operates rapidly growing national retail cannabis stores called Rise™ and Essence. Headquartered in Chicago, Illinois, Green Thumb has 13 manufacturing facilities, licenses for 96…

Continue Reading

Featured Stocks

Decision Diagnostics Corp (OTCMKTS:DECN) Explodes On COVID-19 Test Kit Opportunity




Decision Diagnostics Corp (OTCMKTS:DECN) is exploding higher after unveiling a new methodology for the screening of coronavirus. GenViroTM COVID-19 screening kit is the latest catalysts fuelling the stock’s price action activity in the market. Similarly, the stock has rallied by more than 300% as investors take note of the huge opportunity up for grabs as the coronavirus pandemic continues to cause havoc.

OTCMKTS:DECN Price Analysis

The ever-growing demand for coronavirus test kit presents a unique opportunity for the company to generate significant value. In return, investors have continued to push the stock higher even as the broader equity market continues to plunge into the bear territory.

OTCMKTS:DECN is currently trading in a steep uptrend after succumbing to bearish pressure in 2019. Given the strength of the upward momentum, the stock is closing in on its one-year highs as the break out shows no signs of slowing down. A rally followed by a close above the $0.08 mark should open the door for bulls to push the stock to two-year highs.

DECN Daily Chart

Similarly, the $0.05 mark is the immediate support level above which the stock remains a bull play. Conversely, a breach of the support level would leave Decision Diagnostics susceptible to further drops, probably back to the $0.03 level. However, given the developments on the global scene, the stock looks set to continue powering high on pullbacks.


Decision Diagnostics bills itself…

Continue Reading

Featured Stocks

Is CytoDyn Inc. (OTCMKTS:CYDY) A Buy?




CytoDyn Inc (OTCMKTS:CYDY) has been making big moves lately, which have propelled the stock from December low of $0.270 to new highs. Notably, CytoDyn’s surge has come on significant volume as well, a clear sign of strong investor interest in the stock.

The excitement in CytoDyn stock that we are witnessing right now comes as the company has taken a leading role in the fight against the deadly Wuhan coronavirus. Moreover, investors have started pouring on CytoDyn stock as the company advances the development of its lead drug candidate as a treatment for about two dozen different cancer types.

Before we delve into the details, here is a brief profile of CytoDyn for those investors who may have just come across this company for the very first time.

About CytoDyn

CytoDyn operates in the healthcare sector as a biotechnology company. It is engaged in developing innovative treatments for a broad range of medical indications. Its lead product candidate is leronlimab (PRO 140). Clinical trials of leronlimab are ongoing for conditions such as HIV and multiple cancers with impressive results already attained. But CytoDyn is expanding its target conditions with leronlimab in the wake of the outbreak of the Wuhan coronavirus.

Here are some of the recent developments at CytoDyn that have excited renewed investor interest in its stock.

CytoDyn’s leronlimab under consideration as Wuhan potential coronavirus treatment

CytoDyn’s lead drug candidate leronlimab (PRO 140)…

Continue Reading

MJ Stocks