Supreme Cannabis Stock Is Up: Are Pot Penny Stocks Still Hot?
Marijuana penny stocks have intrigued investors since the very early days of marijuana stocks hitting the market. After all, getting in at bargain prices on an industry set for rapid growth in the future seems like a healthy investment prospect.
With that in mind, Supreme Cannabis Company Inc (TSE:FIRE, OTCMKTS:SPRWF) shareholders are certainly smiling after the company’s recent deal with Canopy Growth Corp (NASDAQ:CGC). But what does this tell us about the pot penny stock market at large? And how can investors profit?
Marijuana industry powerhouse Canopy Growth recently announced that it’s set to acquire Supreme Cannabis Company Inc in a deal valued at $435.0 million. (Source: “Canopy Growth to Acquire The Supreme Cannabis Company,” Cision, April 8, 2021.)
The deal is largely being framed as a way for Canopy Growth Corp to expand its reach in Canada while also ramping up its production in anticipation of federal U.S. marijuana legalization (whenever that’s meant to happen).
Following the deal, the merged company is expected to establish a pro forma Canadian recreational pot market share of 13.6%. That includes an estimated 23.3% share of the premium marijuana flower segment in Ontario and a 21.4% share in British Columbia. (Source: Ibid.)
Canopy Growth Corp also hopes to benefit from cheaper, scalable cultivation via Supreme Cannabis Company Inc’s hybrid-greenhouse facility. Canopy…
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Supreme Cannabis Stock Is Up: Are Pot Penny Stocks Still Hot?
Marijuana penny stocks have intrigued investors since the very early days of marijuana stocks hitting the market. After all, getting in at bargain prices on an industry set for rapid growth in the future seems like a healthy investment prospect.
With that in mind, Supreme Cannabis Company Inc (TSE:FIRE, OTCMKTS:SPRWF) shareholders are certainly smiling after the company’s recent deal with Canopy Growth Corp (NASDAQ:CGC). But what does this tell us about the pot penny stock market at large? And how can investors profit?
Marijuana industry powerhouse Canopy Growth recently announced that it’s set to acquire Supreme Cannabis Company Inc in a deal valued at $435.0 million. (Source: “Canopy Growth to Acquire The Supreme Cannabis Company,” Cision, April 8, 2021.)
The deal is largely being framed as a way for Canopy Growth Corp to expand its reach in Canada while also ramping up its production in anticipation of federal U.S. marijuana legalization (whenever that’s meant to happen).
Following the deal, the merged company is expected to establish a pro forma Canadian recreational pot market share of 13.6%. That includes an estimated 23.3% share of the premium marijuana flower segment in Ontario and a 21.4% share in British Columbia. (Source: Ibid.)
Canopy Growth Corp also hopes to benefit from cheaper, scalable cultivation via Supreme Cannabis Company Inc’s hybrid-greenhouse facility. Canopy…
