Eric Vengroff, Financial Analyst, Cannabis Daily
I heard it. I don’t know if anyone else did…
Last week in Toronto, as Bruce Linton, CEO of Canopy Growth mentioned Canopy Growth (TSX:WEED) and Google in the same sentence, in his interview at the MJBizCon Int’l. That was to say, I believe, that Canopy Growth is (…the Google of cannabis).
With announcements such as the Constellation Brands’ further investment in the company and word that the 42 acre site of the former Hershey’s factory Smith Falls, ON that Canopy occupies being turned into a cannabis tourism site, there’s no doubt as to who’s the envy of the locker room these days. Bold moves and bold predictions indeed. The scrum of bodies, lights, microphones and cellphones around Mr. Linton in the hallway after his interview was of rock star proportions, almost as if some in the excited crowd were looking to pick up a board seat nomination or stock options dropping out if his trousers.
In his own words, Mr. Linton said that he and Canopy are going ‘all in’ in both the medical and recreational spaces. That would also include all forms, smokeable, edible or drinkable (“ingestibles” as he wants these categories described), human or animal, domestic and export, production and retail, devices and technology, vapes and API’s. Everything. Kinda like Google. Meanwhile, other industry professionals are suggesting that it will make more sense for them, reputationally, logistically, and financially, to specialize and limit brands, endeavors, and partners. I don’t know -I’m watching and trying to catch up with the pace of everyone’s moves.
According to Mr. Linton, Canopy will have an open-to-buy for surplus production through options purchases and have enough cash to put a bearhug on virtually any LP during the period of ‘disintegration’ the Canadian industry experiences in the future, as he expects.
I don’t know if this is the equivalent of Babe Ruth pointing to the bleachers, as he got ready to belt out his fifth home run of the game, or objective consideration now that he has surveyed the landscape and arrived at his conclusion. Canopy is #1 and everyone else, take a number.
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