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Canadian cannabis producer Canopy Growth expects to enter the US market next year to grab a piece of a $1.6 billion opportunity

Published 12/12/2018, 01:36 PM
Updated 12/13/2018, 03:22 AM
© REUTERS/Chris Wattie, A worker collects cuttings from a marijuana plant at the Canopy Growth Corporation facility in Smiths Falls, Ontario, Canada, January 4, 2018. Picture taken January 4, 2018.
  • Canopy Growth expects to have an active presence in the US cannabis market by late 2019, CEO Bruce Linton said at an event on Tuesday, according to Cowen.
  • Linton's announcement came after the US Senate voted Tuesday to approve the hemp-friendly Farm Bill. The House will vote on the bill Wednesday.
  • The US-hemp market is expected to be worth $1.6 billion by 2021, said Vivien Azer, an analyst at Cowen.
  • Watch Canopy Growth trade live.

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