Canopy Growth Corp (NYSE: CGC) Just said “Checkmate”

Canopy Growth Corp (NYSE: CGC) has been cruising in 2019. CGC has added more than 70% in value since the start of the year. The company’s CEO has essentially been doing a world tour of late, but the numbers under the hood are starting to show and investors are getting FOMO.

CGC just got a hemp growing license in New York and the company has big plans for the expansion – which will eventually roll out state to state – mentioning investment upward of $500 million.

Canopy Growth Corp (NYSE: CGC) is one of the bigger growers in the industry. The company produces and sells medical marijuana in Canada. It offers dry cannabis and oil products primarily under the Tweed and Bedrocan brands. It also sells its products online.

According to company materials, “Tweed is the most recognized marijuana production brand in the world. It has built a large and loyal following by focusing on quality products and meaningful customer relationships. Tweed doesn’t just sell marijuana, it facilitates a conversation about a product we’ve all heard about but haven’t met intimately yet. It is approachable and friendly, yet reliable and trusted. As marijuana laws liberalize around the world, Tweed will expand its leading Canadian position around the globe.”

Also from their materials, “Bedrocan is the epitome of medical-grade cannabis. Bedrocan BV pioneered medical cannabis in Holland through decades of selection and refinement, leading to standardized, whole bud cannabis strains that patients can rely on. Bedrocan Canada supplies the same standardized strains to the Canadian market through exclusive licensing rights to the American continents, an arrangement it will also enjoy for all future genetic advancements. Due to its consistency over time, Bedrocan’s strains have been used in clinical research in seven European countries. That commitment to research didn’t stay on the east side of the Atlantic – Bedrocan Canada recently launched one of the largest clinical cannabis studies in the world, the EQUAL Study, to evaluate quality of life before and after medical cannabis use.”

Find out when $CGC stock reaches critical levels. Subscribe to Right Now by entering your Email in the box below.

The company has made some very interesting moves on the chessboard this year, and one of the most recent for CGC is the additional investment of $30 million in Canopy Rivers.

“The advantage of a strengthened Canopy Rivers/Canopy Growth relationship is that it accelerates and derisks execution for invested companies,” said Bruce Linton , Founder and Co-CEO, Canopy Growth. “The strength of the Canopy Rivers team, coupled with their selective approach to business development and execution of strategic investments, creates value for shareholders and for Canopy Growth.”

According to the press release, Canopy Rivers has recently expanded its portfolio by making several innovative investments in the cannabis market worldwide, including:

  • An equity interest in Headset, a real-time data and analytics company;
  • Financing of Greenhouse Juice Company, a health and wellness beverage company; and
  • Increasing its ownership in Canapar, an Italy -based hemp production and processing platform capitalizing on the rapidly expanding European CBD market

Canopy Growth Corp (NYSE: CGC) has a market cap of 15.8B and a float of 49.45M. The stock is one of the premier producers it is on a path of explosive growth with serious money behind it. Sign-up for continuing coverage on shares of $CGC stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $CGC, either long or short, and we have not been compensated for this article.