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Monday, November 23, 2020

The Epic Run Continues on Canopy Growth Corp (OTCMKTS:TWMJF)

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Canopy Growth Corp (OTCMKTS:TWMJF) had a really tremendous 2017. That much cannot be argued. The cannabis theme was clearly big for a lot of companies, but Canopy was unquestionably one of the most dramatic stories. The move by Constellation Brands (STZ) to take a minority stake was one of the biggest events of the year in the space, and it set this stock on fire, with shares subsequently rising as much as 150% in just a couple months on massive trading volume.

The company has continued to make major strides, particularly in terms of continuing to amp up its volume of operations. That represents a strong corporate response to increased investment and should help to foster a strong tone as we head into 2018. The latest moves from the company continue this theme of investment in new expansion in terms of productive capacity. We will look at some of these moves below. But lets first take a birds-eye view of the company as a whole.

Canopy Growth Corp (OTCMKTS:TWMJF) is one of the bigger growers in the industry. The company produces and sells medical marijuana in Canada. It offers dry cannabis and oil products primarily under the Tweed and Bedrocan brands. It also sells its products through online.

According to company materials, “Tweed is the most recognized marijuana production brand in the world. It has built a large and loyal following by focusing on quality products and meaningful customer relationships. Tweed doesn’t just sell marijuana, it facilitates a conversation about a product we’ve all heard about but haven’t met intimately yet. It is approachable and friendly, yet reliable and trusted. As marijuana laws liberalize around the world, Tweed will expand its leading Canadian position around the globe.”

Also from their materials, “Bedrocan is the epitome of medical-grade cannabis. Bedrocan BV pioneered medical cannabis in Holland through decades of selection and refinement, leading to standardized, whole bud cannabis strains that patients can rely on. Bedrocan Canada supplies the same standardized strains to the Canadian market through exclusive licensing rights to the American continents, an arrangement it will also enjoy for all future genetic advancements. Due to its consistency over time, Bedrocan’s strains have been used in clinical research in seven European countries. That commitment to research didn’t stay on the east side of the Atlantic – Bedrocan Canada recently launched one of the largest clinical cannabis studies in the world, the EQUAL Study, to evaluate quality of life before and after medical cannabis use.”

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As noted above, we have seen this company actually increase its productive capacity in recent action, and shares broadly continue to perform at a remarkable pace, with breakout after breakout hitting the charts.

In its most recent release, the company just announced, along with Canopy Rivers Corporation, that the two companies have signed a definitive joint venture agreement to form a new company, Les Serres Vert Cannabis Inc., together with Les Serres Stéphane Bertrand Inc., a large-scale tomato greenhouse operator in Mirabel, Quebec. According to the release, “under the terms of the agreement, Vert Mirabel will, subject to satisfaction of certain conditions, lease the 700,000 sq. ft. greenhouse facility from Bertrand. Vert Mirabel will also be provided with an option to acquire the property.”

As we noted previously, the big idea here is quite interesting: the company is looking to convert a tomato greenhouse into a state-of-the-art cannabis cultivation facility to further expand the company’s total capacity.

Currently trading at a market capitalization of $2483.6M, TWMJF has a significant war chest ($108.9M) of cash on the books, which compares with about $1.6M in total current liabilities. TWMJF is pulling in trailing 12-month revenues of $57.9M. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 106.7%. You can bet we will update this one again as new information comes into view. Sign-up for continuing coverage on shares of $TWMJF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $TWMJF, either long or short, and we have not been compensated for this article.

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