Last week was a historical milestone for Canada’s cannabis industry. Canopy Growth Corp. became the very first Canadian cannabis business to be valued over 1 billion dollars. Wow, just wow! There is no denying that this has gotten the attention of big business now.
Bruce Linton Chairman and CEO or Canopy Growth Corp. discusses the emerging cannabis industry and the role CGC plays and can be expected to play.
Canopy Growth Corp. is the parent company of Tweed and Bedrocan, both licensed producers of cannabis in Canada. Both of these companies have set themselves up to be mega producers of medicinal cannabis in Canada.
As Bruce Linton mentions in the video above, CGC is waiting for recreational cannabis to become legalized so they can offer their product to a much wider audience. The Toronto Star recently reported that recreational cannabis sales in Canada are expected to reach in excess of 22 billion dollars, potentially surpassing the sale of alcohol. These guys certainly have played their cards right!
Guess Who’s Tweed’s Post Boy?
Snoop Dogg has been a fan of Tweed for awhile now has partnered with them for his Leafs by Snoop project. Just the news of this partnership alone was enough to propel CGC to higher valuation! Leafs by Snoop is the artist formerly known as Snoop Lion’s signature line of medicinal cannabis for Canadians. Snoop Dogg is also a big investor in Eaze, a cannabis service similar to Uber Eats.
Clearly there is lots of money to be made from this blooming industry. This will be a cash crop, and it looks like CGC is ready and waiting to burst off that starting line once cannabis becomes officially legalized.
Other Big Players
Keep Your eye’s out for these guys. They are also making quite the name for themselves and causing quite the stir in the stock market. Time will only tell who comes out the most successful once prohibition ends. One thing that is sure, these guys aren’t waiting around!