Do You Own These Cannabis Stocks?

Canopy Growth Corp
Canopy Growth Corp

Canada-based Canopy Growth is a diversified cannabis and hemp company, offering distinct brands and curated cannabis varieties in dried, oil and Softgel capsule forms.

The Company’s shares are listed on the TSX under symbol “WEED.TO” and on the NYSE under symbol “CGC”.

Last year, alcoholic beverage giant Constellation Brands (STZ) made a US$4 billion investment and increased its stake in Canopy Growth to 37%.

In April of this year, Canopy Growth entered into an agreement to acquire New York-based Acreage Holdings Inc., which is listed on the Canadian Securities Exchange. If all goes well as planned, the Canopy Growth/ Acreage deal would be the first major cross-border cannabis merger.

For the third quarter fiscal 2019 ended December 31, 2018, net revenue was C$83 million compared to C$21.7 million in the year-ago period.

Based on yesterday’s (Apr.29, 2019) closing price of $52.03, CGC has gained 96% year-to-date on the NYSE.