CANOPY GROWTH CORP COM NPV (OTCMKTS:TWMJF) is dual listed on the TSX under the symbol (WEED.TO), but don’t confuse this with another Bio-Pharma WEED Inc. on the OTCBB with the symbol (BUDZ), they are different companies altogether.
Canopy is dual listed under the symbol (OTCMKTS:TWMJF), and both Canopy Growth entries have volume and liquidity. This seems to be a plan to capture both Canadian trading volume and also US OTC markets, but someone else already had the symbol, so they moved forward. It is an odd choice to list under another US brand, but as the industry grows (and Canopy is one of the larger cannabis stocks) these discrepancies will sort themselves through branding, consolidation and the differentiation that comes with sector maturity.
Right now CANOPY GROWTH CORP COM NPV (OTCMKTS:TWMJF) is one of the big dogs in the space as we move to the next leg of cannabis adoption.
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$TWMJF 10-Day Chart Below:
In a letter a few weeks back the company showed it is evolving in the leadership role. The company said in a press release and also posted prominently on their website the following: The company..Reaffirms Funding for Corporate Social Responsibility Programs and Public Education April 13, 2017 SMITHS FALLS, ON – Later today the Canadian government is expected to table legislation intended to end decades of cannabis prohibition. Looking forward to a legal recreational market made up of an ecosystem of new and exciting businesses, many of which will be introducing themselves to Canadians and their communities for the first times, Canopy Growth wishes to take the opportunity to provide an update on its social responsibility programs. In addition to numerous donations to local cultural and health-based initiatives, Canopy Growth has previously committed that $1 per bottle of cannabis oils sold through its subsidiaries will be allocated to address issues that are unique to cannabis consumption.
Through this dedicated fund, Canopy Growth has already provided resources to the Canadian Drug Policy Coalition (CPDC) and Mothers Against Drunk Driving Canada in order to create safe driving campaigns to address the important issue of driving under the influence of cannabis. We know that this is an important issue in the context of legalized recreational cannabis use and as a company we know we need to do our part to increase awareness through impactful, independent evidence-based campaigns. As a first step, CDPC conducted an in-depth evidence review and knowledge translation. This work, led by renowned drug policy experts Donald McPherson and Rielle Capler, is complete and available online. MADD Canada’s television campaigns were written with the best available research in mind and are presently in production for airing later in the spring.
Following our acquisition of Mettrum and the launch of the Tweed Main Street online store where patients can access all products produced by several of Canada’s leading producers of cannabis in one location, we are pleased to commit that the $1 per bottle education contribution will now extend to Mettrum oil products as well. Moving forward, we know that too many young Canadians are consuming cannabis and parents need resources to speak to their children about drug use. With that in mind, the next prong of our CSR program will focus on supporting parents and other adults to have informed conversations with youth about the use of cannabis. We are proud of the work we’ve accomplished to date and look forward to setting an example of how a modern cannabis producer can play a role in reducing the stigma associated with cannabis and ensuring that as we transition from an era of prohibition and into an era of legal cannabis consumption, we do so in a way that has a positive impact on Canadians and Canadian communities.
The Cannabis sector will evolve and companies will gain and lose market capitalization share price and volume. It is all part of watching a new industry launch and get a foothold as an emerging sector in investing.
The Bottom Line: Shares of TWMJF made a high into the US election like many in the industry. Canopy has continued to grow their corporate responsibility, although the stock price has been off 30% from these highs – they have held important technical levels and proven they have a deep pool of liquidity which keeps investors happy, and as mentioned have been a positive force as one of the leaders in the industry. For continuing coverage on shares of $TWMJF stock, as well as our other hot stock picks, sign up for our free newsletter today and get our next hot stock pick!