|Bid||73.75 x 0|
|Ask||73.90 x 0|
|Day's Range||65.53 - 74.00|
|52 Week Range||11.71 - 74.45|
|Beta (3Y Monthly)||2.04|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||62.39|
Constellation Brands COO and Canopy Growth's CEO sit down for a conversation with Jim Cramer about the future of cannabis.
SMITHS FALLS, ON , Oct. 15, 2018 /CNW/ - As we enter a new chapter in Canadian history, we would like to invite you to join us as we celebrate this moment from coast to coast. As a company of firsts, it only seemed right that we begin October 17 th in St. John's, Newfoundland , one of the oldest cities in North America , and the first to see the sunrise. Bruce Linton , Canopy Growth's founder and Co-CEO and Mark Zekulin , Canopy Growth President and Co-CEO, will be in St. John's to open our first Tweed-branded brick-and-mortar retail store.
Smith Falls, Ontario–based Canopy Growth Corp. made headlines and drove cannabis stocks to new heights over the summer, after it announced that Corona beer-maker Constellation Brands Inc. was going to invest an additional $4 billion in the company.
Canopy Growth on Monday announced it has entered into an agreement to acquire the assets of ebbu, Inc., a leader in hemp research. Canopy Growth will pay C$25 million in cash, as well as issue over 6 million common shares to ebbu. Ebbu’s intellectual property and company advancements apply directly to Canopy Growth’s several capabilities, according to the press release.
Marijuana stocks rally after one of Canada's biggest cannabis companies announces it has agreed to acquire a U.S.-based hemp company. Marijuana stocks rallied Monday after one of the largest Canadian cannabis companies announced that it has agreed to acquire a U.S.-based hemp company. Canopy Growth CGC-CA told investors its purchase of Evergreen, Colorado-based ebbu will "complement and accelerate" its ambitions to expand into new types of consumer products.
CORAL GABLES, FL / ACCESSWIRE / October 15, 2018 / Two-thirds of the country is now in support of recreational cannabislegalization and polls continue to show backing for medical use at levels far above 80%. With a positive outlook, investors focus attention on several marijuanastocks this week especially in consideration of Canada's big push to become only the second country in the world to legalizerecreational marijuana on a national scale. IntegratedCannabis Company (ICNAF) (ICAN) announced earlier this month that it had entered into a retail focused collaboration with New Age Farm, Inc. to deliver CBD education and innovative CBD products to the Colorado market this Fall.
said Monday, Oct. 15, it reached an agreement to buy the assets of Ebbu Inc., a Colorado-based medicinal marijuana research company, for roughly $19.2 million (C$25 million) in cash and 6.2 million shares. The deal, which could include an additional $77.7 million in cash and shares within two years if certain goals are met, would help expand Canopy's business of branding cannabis and hemp softgels, oils and other products, said Canopy in a statement. Canopy would gain Ebbu's intellectual property and research and development know-how, as well as potentially advance its own genetic breeding program for cannabis and further its drink development efforts.
Canopy shipped cannabis from Canada to the U.S. for medical research with the full knowledge of the U.S. government and approval from the Drug Enforcement Agency. Canopy's partner on the American side has yet to be announced but can now conduct medical research and has permission to conduct clinical trials, Canopy Growth CEO Bruce Linton told CNBC's Jim Cramer Friday.
In this daily bar chart of CGC, below, we can see that prices are up five-fold over the past 12 months. CGC was trading at $10 back last October and now is trading around $50 with spikes above $55 last month. CGC is currently above the rising 50-day moving average line and the bullish 200-day line.
Last week, the overall cannabis sector ended in positive territory. The Horizons Marijuana Life Sciences ETF (HMMJ) rose 3.1% between October 5 and October 12. The Emerging Marijuana Growers Index ETF (HMJR) rose 2.2% during the same period. Let’s look at how the cannabis stocks performed last week.
Canadian pot company Canopy Growth Corp. said Monday it has agreed to acquire the assets of Colorado-based Ebbu Inc., a hemp research company, for CAD25 million plus 6.2 million shares. The deal will "complement and accelerate multiple core verticals operating under Canopy Growth's group of companies," Canopy said in a statement. Canopy will take over IP and research and development conducted by Ebbu for its hemp and THC-rich cannabis genetic breeding program and its cannabis-infused beverage capabilities. The company is expecting to cut the cost of CBD production using Ebbu's IP. The news comes just two days before Canada fully legalizes cannabis on Oct. 17. The deal is expected to close in November, subject to regulatory approvals by the TSE and NYSE. Shares rose 2.8% premarket and have gained 110.5% in 2018, while the S&P 500 has gained 3.5%.
SMITHS FALLS, ON , Oct. 15, 2018 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (WEED.TO) (CGC) today announced that it has entered into an agreement to acquire the assets of ebbu, Inc. ("ebbu"), an Evergreen, Colorado -based hemp research leader. The transaction will complement and accelerate multiple core verticals operating under Canopy Growth's group of companies. Intellectual Property ("IP") and R&D advancements achieved by ebbu's team apply directly to Canopy Growth's hemp and THC-rich cannabis genetic breeding program and its cannabis-infused beverage capabilities.
SMITHS FALLS, ON, Oct. 15, 2018 /PRNewswire/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (WEED.TO) (CGC) today announced that it has entered into an agreement to acquire the assets of ebbu, Inc. ("ebbu"), an Evergreen, Colorado-based hemp research leader. The transaction will complement and accelerate multiple core verticals operating under Canopy Growth's group of companies. Intellectual Property ("IP") and R&D advancements achieved by ebbu's team apply directly to Canopy Growth's hemp and THC-rich cannabis genetic breeding program and its cannabis-infused beverage capabilities.
Canopy Rivers Inc. (“Canopy Rivers” or the “Company”) (RIV.V) is pleased to announce PharmHouse Inc. (“PharmHouse”), has entered into an offtake agreement (the “Agreement”) to supply TerrAscend Canada Inc. (“TerrAscend Canada”), a wholly-owned subsidiary of TerrAscend Corp. (“TerrAscend”) (CSE:TER), with cannabis products from 20% of the flowering space at its 1.3 million square foot greenhouse facility until December 31, 2021. Both PharmHouse and TerrAscend are substantial pillars in the Canopy Rivers’ investment portfolio, and this Agreement represents a de-risking milestone for each company. Leveraging the anticipated throughput and low cost of production from the PharmHouse facility positions TerrAscend Canada with a sizeable source of dried flower and trim for packaging, processing, and distribution throughout the TerrAscend logistics platform without the need for considerable capital expenditures.
Constellation, which owns alcoholic-drink brands like Corona beer and Robert Mondavi wines, recently paid $4 billion to boost its stake in Canopy Growth to 38%. "If you said 10 years ago: 'Would we be right here having this discussion today?,' we all would have said 'no, we wouldn't have been,'" Newlands told Cramer. Canopy Growth CEO Bruce Linton, who appeared with Newlands, said weed-related products have the potential to disrupt as much as $500 billion a year in various businesses far beyond just pot-smoking.