When Canopy Growth Corp. started trading in 2014, its entire market cap was under $100 million. Today, it's over $2 billion. It'll likely never go below that level thanks to Constellation Brands:
Corona beer maker, Constellation Brands, has acquired a 9.9% strategic equity holding in Canopy Growth. This news not only caused WEED’s shares to soar higher by 19% today, it was largely responsible for taking the S&P/TSX Composite over the 16,000 threshold for the first time.
About two years ago, WEED was trading for $2 per share. Now, it goes up by $2.30 in a single day of trading. The longs who persisted had a magnificent day.
Canopy Growth Corp. has over a quarter billion dollars in cash. The company has always had grand rhetoric and global ambitions but now they've got the war chest and the connections to make it all a reality.
It closed at $15.22. I wouldn't be surprised if at some point it goes up by $15 in a day before or during 2020.
TWD --> CGC --> WEED. I've been a very content shareholder.