07:17:25 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



CannaRoyalty Corp
Symbol CRZ
Shares Issued 52,885,695
Close 2018-06-26 C$ 5.25
Market Cap C$ 277,649,899
Recent Sedar Documents

Globe/wire say Blackstein bides time on Canopy, rivals

2018-06-27 08:10 ET - In the News

See In the News (C-WEED) Canopy Growth Corp

The Globe and Mail reports in its Wednesday, June 27, edition that pot stocks have soared over the past year as investors bet on a windfall from the legalization of recreational weed in October. A Bloomberg dispatch to The Globe reports that Canopy Growth has soared fivefold in the past 12 months. It has a market value of more than $8-billion, on estimated revenue of about $79-million last fiscal year. Top fund manager Noah Blackstein is intrigued by cannabis, but is biding his time until he can distinguish the winners from the losers. For now, Mr. Blackstein holds a concentrated number of stocks in the technology industry. He says he would consider branching out into cannabis, although it may take a few years. He says he has no issue with owning a cannabis stock in the future, "but what it has to be at the end of the day is a rapidly growing company with the opportunity to be significantly larger." Mr. Blackstein says, "I don't know if any of these current cannabis companies offer that or if it's another generation of cannabis companies that are still to come." In the short term, Mr. Blackstein sees investment possibilities in new health-care technologies, fintech and the Indian e-commerce market.

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