Canopy Growth Corp (NASDAQOTH: TWMJF) is the largest pure-play cannabis company on the market so it’s safe to say that the future is bright for the brand as they prepare for the 2018 calendar years.
With a new year and the potential booming of the marijuana stocks industry, 2018 seems like a rather big year in terms of how the marijuana stock market will play out and how some of the major players, such as Canopy Growth Corp., will factor into that growth.
Canopy Growth Corp. founder and CEO Bruce Linton recently sat down for an interview with The Motley Fool’s Kristine Harjes and outlined the company’s plans for a rather pivotal and important 2018 year.
As for his plans, they are quite big as Linton explains how Canopy Growth Corp. is preparing to capitalize on global marijuana legalization, tap into Canada’s fast-approaching recreational marijuana market, and validate the use of marijuana as medicine, among other things.
Linton, who could dip into the United States market but says he has no plans to do so anytime soon, is focusing Canopy Growth’s attention on the massive opportunity in Europe and elsewhere around the globe.
Linton believes avoiding the U.S. market provides Canopy Growth with a competitive advantage and also cites their listing on the Toronto Stock Exchange and the exchange’s rules, as a big part of why he is reluctant to dive into the United States market.
While Canopy Growth makes most of its money serving the Canadian medical marijuana market things will change as recreational marijuana will hit the market in 2018, which looks to add a big number of customers to the marketplace.
Linton, whose Canopy Growth generated $44 million in revenue over the past 12 months, believes that 400,000 customers could hit the market by the end of 2018. Linton also sees value in regards to Canada’s medical marijuana users, in terms of leveraging their knowledge.
Linton seems intensely confident in what 2018 can hold for his company, and rightfully so as the brand has seen a high level of success thus far in the early days of the marijuana stock exchange.