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Cannabis Summary for March 2, 2021

2021-03-02 20:19 ET - Market Summary

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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index lost 1.39 to 267.11, while the CSE Composite Index added 15.72 to 979.08. Canadian cannabis giant Canopy Growth Corp. (WEED) added 56 cents to $44.47 on 2.7 million shares. Today it trumpeted its entry into the U.S. CBD drinks market, where it has launched its Quatreau brand of low-calorie, CBD-infused sparkling water.

Quatreau has already been available in Canada since last fall. The promotion for the Canadian launch was the standard fluff about "quality and value," but for our southern neighbours, Canopy hitched its promotional wagon to the stars. "The launch of Quatreau coincides with an astrological event known as the Age of Aquarius ... which brings us to the cusp of a brand new age," it intoned. People "turn to the stars for guidance" during this "once-in-a-lifetime transitional period." Presumably the stars will tell them to drink Quatreau, but just to make sure they get the message, Canopy has partnered with "iconic celebrity astrologist" Susan Miller for an on-line campaign.

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