Growth of the roof (CGC) will benefit from the "long track of growth in the US" thanks largely to its hemp production license in New York. Canopy Growth stocks raised marijuana stocks on Friday.
Piper Jaffray analyst Michael Laoweri said in a study that Canopy "has hepeline specific IP, cash reserves and technical expertise to position it well on the US market for hemp and CBD," according to MarketWatch.
The Agriculture Bill of 2018 legalizes industrial hemp, which is a source of cannabidiol or CBD. CBD is a compound in hemp and marijuana plants that do not deliver high THC content. Many people have used it to reduce anxiety and other health goals.
"Although we still do not have more details about his plans," says Lavoury, "we believe this tangible step in the US is clearly positive and makes us more ascendant in terms of its sustainable growth prospects."
Piper Jaffray raised its price tag for Canopy Growth to 60 out of 40. The company also released high ratings for a rival this month Tilray (TLRY).
Stock of canopy growth, marijuana stocks
Canopy Growth shares jumped 7% on the stock market today. Among other marijuana stocks, Aurora Cannabis (ACB) increased by 1% to its 200-day course. Cronos Group (CRON) rose by 2%. Aphria (APHA) increased by 2%. Tilray (TLRY) grew by 3.5%.
Canopy Growth announced this month that New York has given him a license to make hemp in the state. The company plans to invest $ 100 million – $ 150 million in operations in New York. The exact amount depends on the approval of a particular site.
"The project is another example of the strategic advantage that Canopy Growth has gained with a recently closed strategic investment of $ 4 billion, made by Constellation Brands, a leader in US alcohol and Fortune 500," said Canopy Growth. ,
Compete in the US marijuana market
The canopy growth shares jumped afterwards Brands with a constellation (STZ), a large beer and wine company, has announced plans to make this investment. But Constellation has encountered more questions about its stake on Canopy's growth.
The shortage of the Canadian leisure market seems likely to last at least this year. Analysts worry that the winners and losers in the emerging industry are far from clear. Marijuana stocks are still unstable.
Other marijuana companies are trying to find ways to extract from what could be a big market for the American CBD, which is likely to be stimulated by people looking for physiotherapy or pursuing healthcare trends.
This month, Tilray announced a revenue-sharing deal with Authentic Brands Group, a company that has a huge presence of retailers and renowned companies as partners. The deal could eventually put the products manufactured by Tilray in the main retail outlets.
The Green Growth Mark, a Ohio-based company, said she was partnered DSW (DSW) to bring foot creams and muscle balms to the shoe seller's shelves.
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