Week at a Glance: Canopy Growth Corporation (TSX:WEED), July 13th, 2018

Weekly Summary

July 10th, 2018: Canopy Growth To Acquire Hiku Brands To Strengthen Retail And Brand Portfolio

July 12th, 2018: Canopy Enters MOU With BC Liquor Distribution Branch To Supply British Columbian Market

Canopy Growth Corporation has had a great week with regards to brand expansion and supply agreements. With its recent commitment to acquiring Hiku Brands, one of the largest and well-known recreational brands, Canopy Growth has the best brand foundation in the sector in time for October 17th. Along with their fully owned adult-use brand and subsidy, Tweed Inc., Canopy Growth is well positioned for the most consumer recognition in the coming months.

Along with the company’s seek into recreational brands, Canopy Growth has also secured one of the largest supply agreements in British Columbia this week. For the first 12 months, the company is to make available 5,719 kg of high-quality cannabis products for the BC Liquor Distribution Branch. Following this MOU, Canopy Growth has signed for a total of over 67,000 kilograms of premium cannabis products for seven provinces and one territory.

Technical Analysis


SOURCE TradingView

SOURCE TradingView

Close of July 13th, 2018: $37.77 (-$1.60) (-4.06%)

Volume: 15,684,000 (+3,804,000) (+32.02%)

Support Levels: $37.20, $36.17, $33.76

Resistance Levels: $40.20, $42.07, $44.89