Canopy, or Cannabis is the alternative form of marijuana which is recently being used in variety of form to cure some certain diseases. Canopy was launched as first hemp CBD products under the First & Free brand in December 2019. Though the Canada has managed to put a sharp steep in canopy growth, U.S on the other hand hasn’t made any significant impact on canopy growth. That is why Canopy plans to focus now on establishing a solid retail channel in the U.S.
Canopy Growth may not be the most popular pot stock in the world, but by holding a large stock of marijuana, it surely is undoubtedly an industry trendsetter. Although the marijuana law in some states in U.S dictates the use of cannabis, even as medication, but still the growth of canopy is unlikely to recoup anywhere close to $2.06 billion in premium paid for business it acquired.
And even though some companies with reputation has made shocking downfall financially in terms of canopy growth, recently the production rate was increased by 60% and the stock prices of canopy went up to 20%, since it’s the only legal publicly traded weed. With that being said, canopy uses among the diseased people has increased to cure themselves rather than using it for recreational purposes.