During the recent Cantech Investment Conference, Canopy Growth (WEED) CEO Bruce Linton was asked for his thoughts on what would happen if Constellation Brands (STZ) ended up buying a majority stake in the company.
Of course, in such a scenario, the control and decision-making power would rest with Constellation Brands.
Making Canopy valuable
Linton said that his aim was to make Canopy Growth a highly valuable company through its recreational and medical cannabis products, making the company much larger and more successful than Constellation Brands.
The cannabis industry (HMMJ) as a whole is gaining attention from serious investors and experts. Companies in adjacent industries, including alcohol and tobacco, are forming partnerships or acquiring stakes in cannabis companies in a bid for the next growth catalyst for their companies.
Well-respected investment companies are initiating coverage on cannabis stocks such as Cronos Group (CRON) and Tilray (TLRY). The momentum that the cannabis business is picking up and the possibility of further applications, especially in the medicinal market, could very well serve as a support for Linton’s hope that Canopy will become larger than Constellation Brands.
Check out Market Realist’s Healthcare page for ongoing updates on cannabis stocks.