Canopy leveraging Constellation relationship to bring CBD-infused drink to U.S. stores
They have the ability to bring our BioSteel brand [to market]," said Klein, who appeared on " Mad Money " Tuesday. Canopy did not say when it plans to carry the product in U.S. stores. "We then use our innovation … to develop amazing products, we test them out in Canada for a bit of a test-and-learn process, and then we bring them to the U.S. with the help of Constellation's distribution as soon as we can." Canopy hopes to replicate its strong Canadian sales in America with the help of Constellation's beer distribution network. Klein also credited the alcohol giant, whose wide range of brands include Svedka and Cooks Champagne, for helping to bring Quatreau to market.cnbc.com
Here are the biggest analyst calls of the day: Amazon, eBay, Lyft, Carnival & more
Bank of America downgraded the cannabis company and said it thinks industry growth could potentially "flatten" in the second half. "To be clear, we still see Canopy as a long-term leader in an industry with a large and growing Total Addressable Market, increasingly accessible as jurisdictions legalize cannabis. Canada industry growth is set to pause in 2H, potentially flattening, a trend we think could also be the case with Canopy; and yet, the Street is modeling strong double-digit sales growth q/q. So, while constructive long-term, and our call is based on channel dynamics outside of the company's control, we see too much risk to the stock until estimates are rebased."cnbc.com
These U-M alumni founded a startup to streamline end-of-life decisions
ANN ARBOR - It's life's toughest talk: End of life wishes. Canopy is currently in its beta phase and is housed at Ann Arbor SPARK. This story was sponsored by Ann Arbor SPARK. About Ann Arbor SPARKAnn Arbor SPARK, a nonprofit organization, is advancing the region by encouraging and supporting business acceleration, attraction and retention. Ann Arbor SPARK collaborates with business, academic, government and community investor partners.
Cannabis giant Canopy's CEO goes on media blitz to ease concerns
Drew Angerer/Getty Images(CNN) - The CEO of the world's biggest cannabis company is on what might be termed an "everyone calm down" tour this week. "We have been in construction for 70 months," Zekulin said. (Even after the recent tumble, the company remains the biggest publicly traded cannabis firm by market cap at $9.2 billion, however.) A big test for Canopy comes this winter when Canada allows for the sale of consumable products such as cannabis chocolates and vapes. "But for their story and for investor enthusiasm, they have to come out well in this market," Carter said.
CEO's ouster highlights growing pains for cannabis industry
The Canadian cultivator, manufacturer and seller of cannabis products, however, soon would become a company in flux. On Wednesday, Linton told CNN he was fired. Linton told CNN on Wednesday he had fallen out of favor with the company's board, which now includes four directors installed by Constellation. "This is a longer-term industry," said Bethany Gomez, managing director of Brightfield Group, a Chicago-based firm that researches and analyzes the cannabis industry. As such, Canada's recreational cannabis market does not resemble the adult-use states on the other side of its southern border.
Cramer: Buy pot stock Canopy Growth despite the firing of co-CEO and founder Bruce Linton
Facebook exec reminds the world that it won't control Libra... The need to reiterate these points after only two weeks suggests Facebook will have an uphill battle getting people to trust it with something so sensitive as their finances. Technologyread morecnbc.com
Incubator helps budding marijuana businesses grow
A new business accelerator is helping startups find their way in the new legal pot market. Canopy, a Boulder-based incubator for pot entrepreneurs, is the first of its kind. As Barry Petersen reports, even the business of marijuana can use a boost from some seed money.cbsnews.com