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Cannabis Summary for Sept. 14, 2021

2021-09-14 20:06 ET - Market Summary

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by Stockwatch Business Reporter

The S&P/TSX Cannabis Index lost 4.22 to 142.48, while the CSE Composite Index lost 13.47 to 631.27. Canadian cannabis giant Canopy Growth Corp. (WEED) lost 48 cents to $18.57 on 2.1 million shares, as it entered the U.S. CBD vape market. It has launched Whisl, its very first CBD vape, which it will sell to U.S. customers on-line and in convenience stores through its joint venture with Circle K.

The marketing gimmick is that Whisl offers "wellness effects of CBD from morning, throughout the day and into the night." Canopy promoted three pods that go with the vape pen, namely Tune In, Intermission and Fade Out, which are ostensibly for focusing on a task, relaxing during the day and winding down before bed. As each pod contains exactly the same amount of active ingredient -- 200 milligrams of hemp-derived CBD -- presumably the flavours are what is supposed to inspire these feelings. Senior executive Andy Lytwynec nonetheless marvelled at Canopy for "pioneering the concept of using CBD to help consumers manage their moods at any given time of day."

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