Cannabis stocks have been receiving a bevy of positive news, including investment firm Morgan Stanley saying that GW Pharmaceuticals’ new cannabinoid-based therapy will be a “blockbuster.” Additionally, beverage giant Coca-Cola is looking to enter the marijuana industry space with purported interest in Canadian company Aurora Cannabis Inc to help stymie slowing soda sales.
Last month, Constellation Brands, an international producer and beer marketer, invested $5 billion in Canopy Growth Corp. Canopy Growth hopes to parlay this capital infusion, along with a high-level management team and a high-tech distribution center, into becoming a global powerhouse in its respective market.
“Although (Canopy management is) still working through the challenges surrounding the onset and duration of a cannabis-infused beverage, they feel that the benefits of zero/low calories and limited hangover will drive consumers towards this product and away from beverage alcohol (management specifically highlighted beer/spirits as the two categories most at risk),” said analysts led by Andrea Teixeira.
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