Here's Why Canopy Growth Jumped Higher on Friday

Shares of Canopy Growth (NYSE: CGC) popped after the company announced a new subsidiary owned by the licensed Canadian cannabis producer and the actor-musician Drake. Investors convinced better days are around the corner for Canopy Growth pushed the stock 11.8% higher as of 3:52 p.m. on Friday.

That kid from Degrassi High, who shortened his name from Aubrey Drake Graham to just "Drake," is the latest celebrity to help Canopy promote a new line of products under a new brand. Drake bought 60% of the More Life Growth Company, which is already licensed to cultivate, process, and sell cannabis.

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Source Fool.com