Home Cannabis Canopy Growth Provides Updates on Retail and Medical

Canopy Growth Provides Updates on Retail and Medical

Retail

During the third-quarter earnings call, Canopy Growth (WEED) (CGC) stated that it thinks consumers want the experience of visiting physical retail stores, which enables them to have conversations. Canopy Growth already operates retail stores in Canada. The company expects to open more retail stores by the next fourth quarter.

1 Cannabis Stocks YTD Performance 2019-02-18

Medical products

On the medical product front, Canopy Growth is conducting clinical trials that are in phase 2b stage. We think that the medical cannabis business will be the next wave in the cannabis sector after the Canadian recreational cannabis wave. We’re assuming that international markets will open medical cannabis before recreational cannabis. Companies (HMMJ) like Aurora Cannabis (ACB), Canopy Growth (WEED), Tilray (TLRY), and Aphria (APHA) could gain if they’re able to create an intellectual property portfolio for medical products.

Aurora Cannabis, which reported its earnings last week, also shed light on its development of medical products. During the earnings call, the company’s chief corporate officer, Cameron Battley, called Aurora Cannabis a “medical company at heart.” The company stated that it started 40 clinical trials and seven preclinical studies. The company is pushing to make cannabis for medical use more grounded in science and data.

In the above chart, you can see that Canopy Growth has largely outperformed Aurora Cannabis this year. Aurora Cannabis returned 37.2%, while Canopy Growth returned 77% YTD.

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