Bullish options flow was detected in CGC stock on December 9, 2019.
On December 9, 2019, Cantor Fitzgerald analyst Pablo Zuanic said he is surprised it has taken this long for Constellation Brands (STZ) to appoint a new CEO at Canopy Growth (CGC) following the exit of Bruce Linton. Pundits trying to read the tea leaves could make arguments both pro and con regarding whether the probability of a bid for the entire company by Constellation has increased or not, Zuanic tells investors in a research note. For his part, the analyst thinks the probability of Constellation trying to acquire Canopy has increased. However, he admits it is not an easy strategic decision for Constellation given its balance sheet, likely mid- to high-teens earnings dilution from a deal for the 65% of Canopy it does not own, and likely near-term hit to its own share price. Nonetheless, Zuanic assigns a more than two-thirds probability to Constellation putting in a bid for all of the Canopy Growth equity in the near term. On the argument of an improving outlook for the cannabis industry, Constellation could justify a deal, contends the analyst, who has a Neutral rating on Canopy Growth with a C$18.90 price target.
Canopy Growth Corporation will host an exclusive, immersive event on December 9th, 2019 for a sneak peek at new cannabis-infused products set to launch in Canada.
Media are invited to join Canopy Growth executives and representatives for a detailed rundown of Canopy’s “Cannabis 2.0” lineup – including premium chocolate, a line of distilled cannabis beverages, and a range of vape cartridges and pens.
What to expect:
- A keynote speech delivered by Canopy Growth Chief Commercial Officer David Bigioni, detailing our path forward for Cannabis 2.0
- A presentation by Canopy Growth Chief Technology Officer Peter Popplewell unveiling our state-of-the-art vape technology
- Interactive showcases for each new product category hosted by our innovation experts
- An exclusive opportunity to be among the first to touch, taste and trial inactive samples of our product portfolio
- Event details:
Date: December 9, 2019
Event Begins: 1pm
Location: Hotel Arts, 119 12 Ave. SW Calgary
RSVP: If you’re planning on attending, please RSVP here (media only, please)
Please note that this event is 18+ and intended for media only. You must RSVP in order to be admitted to the event.