Canopy Growth Corp. is no stranger to the production of large quantities of cannabis. The company is in the running to be one of the largest producers of cannabis with an estimated annual yield of 400,000 kilograms in a few years.
Currently Canopy Growth has seven facilities with a total of about 665,000 square feet of growing space. They are in the development process of a large 3.7 million square feet facility that holds greenhouses.
The company seeks to meet the current estimated annual demand by Canada of 800,000 kilograms.
Canopy Growth Corp. will become the largest cannabis stock in the world by market cap when they list on NASDAQ in 2018. They originally planned to be listed on NASDAQ in October of 2017, but put their plan on hold after selling a 9.9% stake in the company for about $190 million.
Canopy Growth shares saw a 10% increase due to the news of the future listing on NASDAQ. The stock still trades at an increase from February’s lowest month value close in 2018 of $27.35 CAD per share to today’s (March 15th) $31.21 CAD.
There’s no specification on when the listing on the NASDAQ will take place, but there is an estimated timeframe of second quarter 2018.