Canopy Growth Corp. has been getting a lot of attention lately between Constellation Brands buying a 10% stake and the news that the company is likely to gain a listing on Nasdaq in the second quarter.
Their next move is quite aggressive:
Bloomberg reported earlier this week that Canopy was one of a trio of companies pursuing Alcaliber SA, a Spanish company that produces raw narcotic materials used to produce Morphine and Thebaine.
The acquisition of Alcaliber would almost certainly accelerate Canopy's move onto a senior exchange. While the company trades in Canada under the ticker LEAF, and it is listed on OTC Markets under TMWJF, trading on Nasdaq or the NYSE would give the company exposure to more investors.
Seriously? It has been 48 hours and that stunning mistake is still there! Canopy doesn't trade under the ticker LEAF -- that would be MedReleaf Corp. The ticker for Canopy is WEED.