First Wave of New Cannabis 2.0 Products Will Be Available For Purchase in Early January 2020
Canopy Growth’s New Product Formats Include Cannabis Beverages, Vapes and Edibles
Canopy Growth (TSX: WEED) (NYSE: CGC) provided investors with an update on its Cannabis 2.0 operations this morning announcing that its new cannabis beverage, vape and edible products will be available to Canadian consumers in early January 2020.
December 16, 2019, is the official date when companies can begin selling its new Cannabis 2.0 products into the provincial distribution channels. Canopy says it will be “leveraging learnings from Cannabis 1.0” as it prepares to capitalize on the second wave of cannabis commercialization in Canada.
To ensure a smooth and effective legalization 2.0 roll-out, Canopy says it will stagger the release of its various new products. Canadian consumers should expect product availability in each province to vary as each province’s inventory will depend on its ordering and distribution activities.
Canopy also noted that today’s press release will be the final update regarding the launch of its new Cannabis 2.0 products. For competitive reasons, the company will not provide additional updates during the roll-out of its new beverages, vapes and edibles.
Source: Shutterstock
The First Wave of Canopy Growth’s New Products Will Include the Following:
Ready-to-Drink Mixed Distilled Cannabis Beverage Products
- Early January 2020
- Seth Rogen‘s Houseplant beverages in Grapefruit and Lemon flavours
- Tweed Houndstooth & Soda
- Late January 2020
- Quatreau beverages
- Additional Tweed branded beverages
- Deep Space beverages
- Early February 2020
- Distilled Cannabis branded spirits
- Cannabis drinks are expected to sell for $3.49 + tax.
Cannabis-Infused Chocolate Products
- Early January 2020
- Tweed Bakerstreet chocolate bars
- Tokyo Smoke Go chocolate
- Tokyo Smoke Pause chocolate
- Late January 2020
- Tokyo Smoke Ease CBD chocolate
- Late February 2020
- Bean & Bud high-quality deluxe chocolate
- All chocolate products are expected to start at roughly $8 + tax.
Cannabis Vape Pens and Vape Cartridges
- Late January 2020
- Tweed branded vape products
- Twd. and Van Der Pop branded 510 thread format devices
- To Follow Soon After
- Bluetooth-enabled Juju Joints line-up of products
- Juju Joints recyclable single-use vape pen and Juju Power pod-based vape system
- Vape products will include a smartphone app to control the technology and provide strain information
- New vape products are expected to sell for $34.99 and $79.99
In regards to the company’s vaping products, Canopy provided the following statement in today’s press release:
“The Company will ensure that all products obtain UL 8139 certification prior to coming to market, which it considers the most thorough safety standard for vaping devices. Additionally, the Company is continually reviewing and testing all inputs to ensure the highest quality and reliability of cannabinoids, terpenes, tamper-resistance and product serialization features. The Company recognizes the recent announcements by the provinces of Newfoundland & Labrador and Quebec delaying the launch of vape products in those provinces; as provincial buyers increase their level of scrutiny on the products they sell, the Company will continue to work to meet the highest standards of safety, product quality and transparency for consumers.”
WEED Price Action
Shares of Canopy Growth’s TSX listed stock closed today’s trading session at $24.72 per share, up 0.86% on the day. After hitting an intraday low of $18.23 on November 19th, the stock has rebounded sharply and is currently consolidating nicely while forming a bullish pennant continuation chart pattern.
Be on the lookout for any positive catalysts that could help Canopy’s stock breakout and begin a second push higher off the bottom. Traders looking to calculate a potential price target on Canopy’s bull pennant chart formation should read our previous article here. Remember, overall market conditions can influence the outcome of any seeming perfect chart pattern as was the case with the example in our article. The market was hit with multiple negative catalysts a couple of months back sending the whole sector plummeting so set stop losses when possible.
The opposite is true when the market is bullish increasing the odds that these types of chart patterns will be successful. As the old saying goes, a rising tide lifts all boats.
Source: Barchart.com
Learn more about Canopy Growth: Website | IR Website | Investor Deck | WEED Chart
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