The Best Pot Stock for the Next 10 Years
While Canada technically made medical cannabis legal in 2001, its federal courts didn't allow producers to market cannabis until 2016. Recreational cannabis, which included flowers, oils, plants, and seeds for adult use, became legal in October 2018 as part of "Cannabis 1.0" legalization. Canopy Growth (NYSE: CGC) was an early mover in this market -- it first started selling cannabis oil in its fourth quarter of fiscal 2016. It sells its marijuana products under brand names including Tweed, Tokyo Smoke, and Spectrum Therapeutics. It also has the highest market cap in this evolving industry, at $6.6 billion.
One of Canopy's strengths right now is its group of innovative derivatives products. Cannabis derivatives include vapes, edibles, concentrates, and beverages, which Canada legalized as part of "Cannabis 2.0" in October 2019. Before its first quarter ended June 30, the company had launched a range of cannabis-infused beverages, chocolates, and vape products.
Source Fool.com
