The cannabis market is a fast growing industry, and there are two camps: those who support and those who are against the legalization of marijuana. CANOPY GROWTH CORP COM NPV (OTCMKTS:TWMJF) is one stock that could continue running, depending on marijuana laws in the U.S. and Canada. The industry has been thriving and some companies are emerging as strong potential growth candidates.
New Frontier Data, a cannabis market research and analytics firm, aims to track the long-term potential for the cannabis industry. That said, in the recent 2017 annual report, New Frontier Data estimated sales to reach $24.5B in 2025, and the cannabis industry employment could reach 255K jobs. Moreover, the U.S. government has not been looking to curb marijuana development. Cannabis could actually be gaining legitimacy, even though the Drug Enforcement Administration classifies marijuana as a schedule 1 substance with no medical use. However, the Patent and Trademark Office has been granting patents to cannabis companies, indicating potential growth in the industry.
CANOPY GROWTH CORP COM NPV (OTCMKTS:TWMJF) trades on the Toronto Stock Exchange and on OTC Pink, and it could potentially grow its business if and when people become more receptive of cannabis as a medicine. Moreover Canopy Growth is expected to be listed on the S&P/TSX Composite Index, making it the first marijuana company to do so. That said, there could be many investors looking to invest in the company due to this recent news.
Bruce Linton, Chairman & CEO of Canopy Growth, stated, “Being added to the index is an important accomplishment and a reflection of the work we’ve done to put Canopy Growth top of mind in the investment community … With international operations, high profile partnerships, and expansion plans all developing rapidly, being included in the index acts as another layer of credibility investors can point to.”
Canopy Growth is a leading diversified marijuana company. Canopy Growth operates a collection of diverse brands, as well as curated strain varieties. Moreover, TWMJF operates over 500M square feet of indoor and greenhouse production capacity. Canopy Growth’s brands include Tweed, Bedrocan and Mettrum.
Canopy Growth’s brand Tweed is one of the most recognized cannabis production brands in the world. Tweed has built a large and loyal user base, by focusing on high-quality products and customer relationships. Now, if countries and states relax marijuana laws, Tweed could expand its position across the globe.
The company’s second core brand is Bedrocan, which Canopy Growth considers the epitome of medical-grade cannabis. Bedrocan BV pioneered medicinal marijuana in Holland through decades of experience of selecting and refining cannabis. The results here are whole bud cannabis strains that patients could rely on. Bedrocan Canada supplies these standardized strains to the Canadian market through exclusive licensing rights to American continents.
Canopy Growth’s third core brand is Mettrum. Mettrum has a unique color-based strength and dosage system, known as the Mettrum Spectrum. Mettrum is one of the leading natural health brands in the Canadian medical marijuana market.
When speaking on the company’s third quarter earning’s results, Bruce Linton, Chairman and CEO of Canopy Growth, stated, “The third quarter provided new opportunities and challenges for our business, with demand largely exceeding supply throughout the quarter…“A function of our growing patient base, the time required to move from a record harvest to sale, and an extensive phenotyping exercise to establish breeding stock and further elevate our product offering all resulted in constrained product available for sale during the quarter. The successful late-quarter harvest of the Tweed Farms facility running at full capacity has begun to ease supply constraints while at the same time we have introduced a new diversity of product into our online store under the Tweed, Leafs By Snoop and DNA Genetics banners, driving strong sales this month.”
Linton also stated, “The recent release of our first wave of new genetics and Tweed Farms product resulted in one million dollars of store sales in a single day, on February 1. That is a major milestone for Canopy. Two years ago, we had our first million dollar quarter, a year ago we had our first million dollar month, and now we have had our first million dollar day. It’s definitely trending well.”
Canopy Growth is about to be listed on the S&P/TSX Composite Index, which is good news for the marijuana/cannabis industry. That said, you might want to keep an eye on TWMJX, as other indices may follow suit. Stay up to date on the most recent news and updates on TWMJF by signning up for our 100% free newsletter! Do so now by entering your active email address into the box below and click submit!