Canopy Growth Corp Stock Price, News & Analysis

Canopy Growth Corporation has announced its agreement to acquire Wana Brands, the leading cannabis edibles brand in North America, upon federal legalization of THC in the U.S. This strategic move, valued at USD 297.5 million, aims to enhance Canopy's presence in the U.S. cannabis market, which is expected to expand significantly. Wana operates in 12 U.S. states and has plans to reach more than 20 states by the end of 2022. The acquisition is seen as a pivotal step in Canopy's growth strategy, leveraging Wana's established brand and profitable business model.

Karma Water has launched its first CBD beverage, Karma CBD Water, in collaboration with Canopy Growth Corporation. This innovative drink combines 25mg of CBD distillate made from U.S. hemp with Karma's patented Push Cap technology, designed to preserve potency until consumption. Available in five natural flavors, the product aims to cater to the growing demand for quick-acting wellness beverages. Distributed through Constellation Brands' beer network, Karma CBD Water is positioned to strengthen both companies' market presence in the CBD category.

On September 14, 2021, Canopy Growth Corporation (NASDAQ: CGC) held its annual general and special meeting where 66.01% of issued shares were voted. All proposals in the proxy statement were approved by the majority. Key results included the election of directors with high support, such as Judy A. Schmeling with 98.59% votes in favor, and the appointment of KPMG LLP as auditors for fiscal year 2022. The shareholders also approved amendments to the Company’s By-laws and an advisory resolution on executive compensation.

Canopy Growth Corporation has launched its first CBD vape, whisl, available for purchase on ShopCanopy.com and at over 3,000 Circle K stores nationwide starting October 1. This nicotine-free vaporizer features interchangeable pods tailored for focus, relaxation, and sleep, each containing 200 mg of premium CBD isolate. The MSRP for the starter kit is $39.99, and each pod package is priced at $19.99. Designed for immediate effects, whisl aims to enhance mood management while ensuring quality and safety through rigorous testing.

STORZ & BICKEL, a subsidiary of Canopy Growth Corporation (CGC), has launched three new vaporizers: the limited edition VOLCANO ONYX, the upgraded CRAFTY+, and the new MIGHTY+. The VOLCANO ONYX is priced at $699, while the VOLCANO CLASSIC ONYX is $479. The CRAFTY+ costs $279, offering reduced charging time. The MIGHTY+ is priced at $399, featuring rapid charging and a new temperature setting. These innovations are said to reflect STORZ & BICKEL's commitment to quality and user experience in the vaporizer market.

Canopy Growth Corporation (NASDAQ: CGC) will present virtually at the 2021 Barclays Global Consumer Staples Conference on September 8, 2021, at 3:20 pm ET. CEO David Klein will discuss the company's business transformation, U.S. operations, and strategic initiatives. The presentation will be accessible via the company's website, with a replay available for those unable to attend live. Canopy Growth is a leading cannabis and cannabinoid product company, aiming to improve lives and strengthen communities through innovative consumer products.

Canopy Growth Corporation (TSX: WEED, NASDAQ: CGC) will host its 2021 Annual General and Special Meeting virtually on September 14, 2021, at 2:00 PM ET. This meeting is open to eligible shareholders, defined as those on record as of July 21, 2021. Important details and instructions for participation are available in the proxy statement. Shareholders have received notices regarding internet availability to aid in voting.

The company is a leading diversified cannabis producer, offering a variety of products including dried flower, oils, and infused beverages.

Canopy Growth Corporation (CGC) reported Q1 2022 revenue of $136.2 million, a 23% increase year-over-year, driven by strong growth in cannabis and consumer products. The company maintained a 15.2% share in the Canadian recreational market while completing acquisitions of Ace Valley and Supreme Cannabis. Net income improved significantly to $390 million, aided by $581 million in other income. However, adjusted EBITDA loss was $64 million. The company aims for profitability and positive adjusted EBITDA by the end of FY 2022, targeting $150-$200 million in cost savings.

On July 27, 2021, Canopy Growth Corporation (NASDAQ: CGC) announced the launch of Tweed Quickies and Ace Valley Pinners, two new lines of smaller pre-roll joints available in larger pack sizes. This move responds to consumer preferences for more manageable cannabis options, particularly in social settings. Tweed Quickies, featuring 0.35 gram joints, come in packs of ten, while Ace Valley Pinners offer 0.3 gram joints in packs of eight. The products are designed for individual or group use without sharing, marking a significant addition to Canopy's product portfolio during the summer.