The cannabis industry is growing at a rapid pace, and CANOPY GROWTH CORP COM NPV (OTCMKTS:TWMJF) is one publicly-traded cannabis stock that could continue higher, depending on legal marijuana laws in Canada and the U.S.
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.
CANOPY GROWTH CORP COM NPV (OTCMKTS:TWMJF) recently announced that it launched sales of an array of top-tier seeds, under the company’s HomeGrow Collection banner. The collection consists of 10 cannabis varieties, ranging from CBD to low and high THC options. According to Canopy Growth President, “Our goal is to offer a wide selection of cannabis products in a variety of formats, from dried bud and blends, to oils… We know there is demand for high-quality cannabis seeds and we have long supported the patient’s individual right to grow their own medicine so this is a special day for our company.”
The company’s brand, Tweed, is willing to offer authorized patients a one-time discount worth $25 toward any available product in the Tweed shop. Consequently, this should attract many customers and create brand loyalty. In turn, this could potentially increase revenues and earnings, which should propel the stock higher.
Canopy Growth was recently added to the S&P/TSX Composite Index, this marked Canopy Growth Corp the first marijuana stock to be listed on the Index. This could potentially push the stock higher, due to the increased marketability.
According to Chairman and Chief Executive Officer Bruce Linton, “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.”
In addition to this news, Tweed, Canopy Growth’s wholly owned subsidiary, was recently named an Emerging Cult Brand of the Year at the Gathering. This is a festival the bridges marketers and entrepreneurs, and commemorates brands that have developed “cult-like” followings. Canopy Growth’s Tweed is being recognized in a circle with other well-established brands, including Canada Goose, Fender and Levi’s.
According to Canopy Growth CEO, “We are humbled to be recognized at The Gathering…To be surrounded by such established companies is an honour. With massive expansion and exciting new products in the works this award is motivation to continue doing what we do best: innovating and building our voice.”
That in mind, its recent award of being an Emerging Cult Brand should increase the company’s brand recognition. This could potentially push the company’s revenues higher, which may translate to higher earnings. In turn, this should push TWMJF higher.
Canopy Growth Corp could continue to rise after being up nearly 270% over the past year. Moreover, the company had some positive news recently, which included being added to the S&P/TSX Composite Index. You might want to keep an eye on TWMJF for any updates because this stock could move higher with these developments. Now, we all know how hard it could be to stare at the screens anxiously awaiting news. However, you don’t need to do that if you subscribe to our free newsletter by simply entering your email below. Thereafter, we would send you any updates on TWMJF, as they become publicly available.