Is Canopy Growth Stock a Buy?
Recently, Martha Stewart, the entertainment and lifestyle icon, launched a new set of cannabis-infused oils and edibles bearing her personal brand. Rather than targeting people that need medicinal cannabis or who want a recreational product, Stewart's brand purports that marijuana has a place in your daily wellness routine. If that isn't a sign that the cannabis industry has grown far beyond its roots, nothing is.
Stewart isn't competing in the wellness market alone, however. Canopy Growth (NASDAQ: CGC) is at the start of what could be a long collaboration with Stewart. Across the U.S. and elsewhere, the company is launching a lineup of next-generation "Cannabis 2.0" products like vapes, edibles, and marijuana beverages. At the same time, it seeks to evangelize cannabis-using icons like Stewart, thereby converting skeptical new customers and reaching new demographics. But will this stock be a worthwhile investment anytime soon?
Image source: Getty Images.
Source Fool.com
