Canopy Growth Seizes U.S. Market with New “One-Stop” Shop Online Store

Amidst continued market volatility, Canopy Growth (NYSE: CGC) has a proven track record and is currently trading at a fraction of the share price it’s March 2018 high. Our analysts at Cannin continue to recommend a neutral (for now) rating for the hemp stock. But, we’re interested in seeing how things progress with the company’s expansion efforts. Recently, Canopy Growth announced that it is seizing the U.S. market with a new “one-stop” shop online store. How will this impact the price of this hemp stock?

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The company announced today that it has a new “one-stop” shop online store for all of its products. Canopy Growth’s new website will continue to be a one-stop hub of all of its hemp portfolio products as it expands. While Canopy Growth now has an easy way for consumers to purchase products, it can fully flaunt its celebrity brands. A celebrity brand available online at the new Canopy Growth website is the Martha Stewart CBD line of products. All Martha Stewart CBD products launched for sale for the first time this week. Canopy Growth’s stock recovered nearly 20% after the COVID stock market plunge across all markets globally, but is this hemp stock a strong buy?

Canopy Growth Corporation could be considered by some as a strong buy after it has recently debuted several CBD products, like the Martha Stewart CBD line of products, and made its entire portfolio available in a “one-stop” shop location. An investment made into Canopy Growth at this could be considered as one of the best cannabis stock investing opportunities for 2020.

Is Canopy Growth one of the best hemp stocks for 2020?

Our analysts here at Cannin continue to remain neutral on any “buy” indicators for Canopy Growth Corporation but we are not ruling this one out for longer-term profitability. The company has CBD brands that are high-profile, celebrity brands. A notable combination is a partnership created beverage with actor Seth Rogen and screenwriter Evan Goldberg that resulted in Houseplant, a cannabis-infused beverage. An infusion of 2.5 milligrams of THC can be found in the beverage’s grapefruit or lemon flavor. The complex nature of the product portfolio of Canopy Growth’s CBD and THC products set it apart from rival cannabis companies and give it an edge against the competition.

Research performed by the analysts at Cannin resulted in the conclusion that Canopy Growth is a “neutral (for now)” hemp stock investment opportunity for 2020. We say “for now” as the company’s star-studded line of CBD and THC products will without a doubt set it apart from other companies and its online “one-stop” shop store will bring in easy e-commerce sales revenues. Canopy’s Martha Stewart CBD line is likely to be one of its most popular products for the coming weeks as it was just made available for sale for the first time.

Canopy Growth Seizes U.S. Market with New “One-Stop” Shop Online Store

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Canopy Growth Seizes U.S. Market with New “One-Stop” Shop Online Store