Tweed Inc. (Tweed), wholly owned subsidiary of Canopy Growth Corporation (Canopy Growth) (TSX: CGC) (OTC: TWMJF)
CGC last summer was believed to be to “safe” investment when it came to marijuana stocks. Jim Cramer was even bragging about how much he liked it. Now after the buzz from the Canadian market becoming legal marijuana stocks seem to be fading quickly. Back in 2015 (Tweed), wholly owned subsidiary of Canopy Growth Corporation (Canopy Growth) (TSX: CGC) (OTC: TWMJF), launched Lemon Skunk in the Tweed store. This is the first strain bred from DNA Genetics, hand selected through painstaking phenotyping by DNA Genetics, and grown to DNA standards in Tweed’s world-class facility at One Hershey Drive in Smiths Falls, Ontario. The stock took off from there. It made some investors millions. Now it is starting to look like this is just a momentum stock that gets pumped to attract new suckers. We saw a lot of this with bitcoin stocks. They get new investors hyped up and insiders dump their shares into the hype leaving investors holding the bag. Some people think CGC is a pump and Dump. We aren’t going to call it that yet. It still has a lot going for it and still could end up doing very well.
The dispatch of this prestigious line-up of handpicked hereditary qualities takes after a late declaration that Tweed has propelled another seed rearing zone, which will serve as a monstrous quickening agent towards exceptional item improvement capacities keeping in mind the end goal to extend quality and assortment through development.
Notwithstanding fresh out of the box new items, Tweed and DNA have worked together on a phenotyping venture that has now yielded dried cannabis deserving of authority affirmation by the California-conceived, Holland-based reproducing group.
“This coming October will check one entire year we have been working with the fantastic group at Tweed,” said Don of DNA Genetics. “We’ve been through a large number of hereditary qualities over that time, and went through numerous days with the cultivators, base and plants there at Tweed. We’re pleased to put our DNA logo and blessing on the Tweed box.”
The company recently announced strong results for the first quarter with the revenue growth 300% to $7.0 million years over year, also representing a growth of a 39% increase over fourth quarter of last year.
Its shares are currently trading around $2.94 a share with a market capitalization of 321 million. The company’s stock has 52 week range of $1.140 – $3.229 a share. Its daily average share volume stands s around 33,804 shares. The company’s outstanding shares around 107.43 million while authorized share are at 305.91 million.