Canopy Growth's Big Brand Development Strategy

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About: Canopy Growth Corporation (CGC), SQBG
by: Daniel Jones
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Daniel Jones
Deep Value, value, contrarian, special situations
Summary

The management team at Canopy Growth announced a major strategic move that allows the firm to partner up with Martha Stewart.

This move is logical for Canopy as it should be moving toward becoming a lifestyle brand, and it has little to lose from this.

It also fits well with the firm's move into industrial hemp in New York and its commitment to developing more in the US.

For Sequential, the parent of Martha Stewart's brand, this could be a boon for business at a time when the firm's prospects look mediocre at best.

Though the recreational cannabis industry may be viewed by different people from different perspectives, my view is that tomorrow’s industry leaders will be looked back on and have one thing in common: an emphasis on