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
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.
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.
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Disclosure: We have no position in any of the securities mentioned and have not been compensated for this article.
County Line Energy (OTC: CYLC): This Hidden Gem Grows More Than Just Weed
County Line Energy Corp. (OTC: CYLC) could be the next pot stock to hit the JACK POT as the company aggressively carves out a household name for itself in the legal marijuana arena!
Many slang words have evolved over the years for marijuana, but it doesn’t matter what you call it.
What matters is that cannabis, Mary Jane, ganja, etc., has evolved into a colossal sector that is worth billions upon billions of dollars.
This is an industry that has created massive business opportunities and has provided health benefits to a slew of people who suffer from a range of disorders including depression, insomnia, pain, PTSD, and even serious diseases like cancer.
There is no doubt that legal marijuana is a boom to the economy, bringing salvation to states that are now able to generate massive revenue from taxes.
Colorado, one of the first states to legalize the drug, has money pouring in from its legal recreational marijuana sales. The state surpassed a whopping $1 billion in tax revenue this year since recreational use was legalized in 2014!
Support for legalizing the plant has also reached an all-time high in America according to the latest Gallup poll and every Democrat running for president in 2020 is now in favor of marijuana legislation on a federal level. Prohibition in America could be on its very last legs!
It has been estimated that 1/3rd of America’s marijuana is now grown inside according to motherjones.com. and this…
CBD-infused Coffee is taking the World by Storm and GenTech Holdings (OTC: GTEH) is Set to Capitalize on this Emerging New Trend…
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.
Two Hands Corporation (OTC: TWOH) Has Discovered the Road to Massive Profits in Both the Legal CBD Arena and the App Industry!
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…