Look at how badly Kroger’s stock is doing today
Canopy Growth chairman and co-CEO Bruce Linton is feeling good about Martha Stewart recently joining the cannabis company as an adviser.
“Martha. You don’t even need a last name,” he told Julia Chatterley on Fintech Zoom’s “First Move” show Thursday and added that signing Stewart was all about attaching “a great reputation to great products.”
Linton also said he was not worried about the fact that Canopy Growth is not yet profitable. The industry is still in its early stages, he said.
Canada just legalized recreational cannabis in October, and more and more US states are doing the same for recreational and medicinal marijuana.
“We need to be disciplined, but prohibition just ended,” Linton said about Canada. He added that Canopy wants to have a “rational” rollout of cannabis and CBD products but that it “will happen rapidly.”
Canopy Growth (CGC) may be in the best position to establish itself as a leader in the still nascent industry thanks to a huge investment from Corona owner Constellation Brands (STZ), Linton told Chatterley.
“When someone says can I give you $4 billion, you say yes,” he said.