Martha Stewart joins the cannabis industry as a brand ambassador for Canopy Growth’s (NYSE:CGC,TSX:WEED) lineup of products in the US market.

Canopy, in partnership with Sequential Brands Group (NASDAQ:SQBG), confirmed the new role for the celebrity businesswoman and television personality.


Stewart will aid in the development of Canopy’s new line of hemp derived cannabidiol (CBD) products in the US.

 

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“I’m especially looking forward to our first collaboration together, which will offer sensible products for people’s beloved pets,” Stewart said.

Canopy announced it holds “several clinical trials underway” for the effectiveness of CBD and other cannabinoids to improve the health of humans and animals.

The Canadian firm indicated it will rely on Stewart’s knowledge of consumer products.

Shares of Canopy jumped in New York and Toronto, with the company raising in value 3.63 and 3.67 percent at the closing bell on Thursday.

The company finished with a price per share of US$47.41 and C$62.38 respectively.

In January, Canopy announced it would break through to the US market, thanks to the passing of a US$867-billion farm bill legalizing hemp and its derivatives including CBD.

The Canadian firm will invest between US$100 million and US$150 million for its new production plans in New York.

Stewart has raised her profile in the cannabis space thanks to a cooking television show, “Martha & Snoop’s Potluck Dinner Party” co-hosted with rapper Snoop Dogg, which also led to the sale of a cookbook.

“Martha is one of a kind and I am so excited to be able to work alongside this icon to sharpen our CBD product offerings across categories from human to animal,” Bruce Linton, Canopy chairman and co-CEO said in a press release.

Canopy did not offer specific terms of the partnership or payment or compensation specifics for the deal.

Canadian cannabis firm finds celebrity partnerships in the US

Through this partnership, Canopy is able to capitalize on a core difference between the US and Canadian cannabis markets.

Health Canada, the government agency tasked with regulated the marijuana industry in the country, has placed strong policies on the role celebrities can have with regards to the promotion of cannabis-based products and companies.

While Canada has legalized the drug for adult consumption first, its heavy restrictions on promotions and partnerships have left companies to scramble for brand awareness plans.

Now, Canopy has attached its name to Stewart and her business savviness thanks to its US strategy.

However, some celebrities have found ways into the Canadian cannabis investing space through business partnerships.

Newstrike Brands (TSXV:HIP,OTC Pink:NWKRF) signed Canadian rock band The Tragically Hip to a multi-year deal and Invictus MD (TSXV:GENE,OTCQX:IVITF) performed a similar manoeuvre by signing Gene Simmons to the role of “chief evangelist officer.”

In these cases, both marijuana firms changed their ticker symbols on the TSX Venture Exchange (TSXV) to “HIP” and “GENE” to reflect these partnerships.

Despite the partnerships, the cannabis companies are not allowed to sell products on the basis of these celebrity endorsements, while Canopy already touts Stewart’s brand awareness with consumer products.

As the Cannabis Act was enacted last October, several celebrity deals in place with cannabis companies were scrapped for the Canadian market as part of the heavy restrictions in place.

“If a name can, in and of itself, be a ‘depiction,’ then yes this will have an impact on branding. Any brand referencing a celebrity by name will be offside in that case,” Trina Fraser, a business lawyer at Brazeau Seller Law told Marijuana Business Daily.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Invictus MD is a client of the Investing News Network. This article is not paid-for content.

 

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US cannabis received a boost this week with a policy move that may hint at future changes.

Meanwhile, Amazon (NASDQ:AMZN) threw its full support behind cannabis reform in the US by way of a public post confirming the company’s acceptance of the drug.

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  • Research findings originated from cannabinoid-based collaboration with leading epilepsy researcher, Dr. Peter Carlen, at UHN that is also supported by a Mitacs Accelerate program grant.
  • Avicanna’s proprietary formulation showed promising pre-clinical results in reducing seizures and will be developed through the company’s pharmaceutical development pipeline as an epilepsy drug candidate.

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Avicanna Inc. (” Avicanna ” or the ” Company “) (TSX: AVCN) (OTCQX: AVCNF) (FSE: 0NN) a biopharmaceutical company focused on the development, manufacturing and commercialization of plant-derived cannabinoid-based pharmaceuticals is pleased to announce that it has filed a provisional patent application with the United States Patent and Trademark Office, entitled “Methods for Reducing or Eliminating Incidence of Seizures and Sudden Unexpected Death in Epilepsy”, on the use of a novel cannabinoid formulation (the “ Formulation Candidate ”).

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Cannabis legalization in Canada helped kickstart a financial revolution in the stock market with the launch of a diverse portfolio of marijuana firms.

With the boom of public cannabis businesses in full swing, are you thinking about investing in cannabis companies? If so, consider starting your journey here.

A wide spectrum of marijuana stocks have made their mark in the global industry thanks to the amount of money raised from investors and the attention the sector is getting from established industries.

 

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What’s to come is anyone’s guess, but it seems this new and burgeoning industry is still in its early days, with diverse nations beginning to move forward with plans for legalizing marijuana.

That means there’s likely still money to be made in cannabis stocks as the market builds and cannabis products expand in availability over the next few years.

There are many differing opinions about how much the global legal cannabis market will be worth in the years to come, with estimates including US$70.6 billion by 2028 and US$91.5 billion by that same year.

But one thing is almost certain: The market is set to grow as opinions surrounding the plant evolve over time and as platforms crop up to supply different consumption preferences. And all of that will mean more cannabis investment opportunities with both existing companies and future entries to the market.

For now, let’s take a look at where you can invest your money at this point in time.

How to invest in cannabis: Canadian cannabis stocks

First thing’s first: Canada. This is the obvious place to start as marijuana is legal at the federal level and Canadian cannabis stocks are less likely than their US counterparts to suffer from political volatility.

That said, due to the uncertainty of investing in the US marijuana space, where the drug is not legal at the federal level, Canadian firms have been forced to make choices about how they operate. For example, Canada’s senior exchanges do not allow companies with American cannabis assets to list.

While the Canadian cannabis space continues to face challenges, investors are eagerly watching as companies move into the edibles and beverages markets and develop new products.

For lists of Canadian marijuana stocks to consider, click here.

 

Cannabis Market Could Reach $5.5B By End Of Year

 
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How to invest in cannabis: US cannabis stocks

Although some US states have legalized cannabis, American cannabis stocks may be riskier than those in Canada due to federal restrictions on the sale and cultivation of cannabis.

However, as the saying goes, the greater the risk, the greater the possible reward. The US market could grow up to US$43 billion by 2025, and that’s not even including the size of the market if nationwide legalization happens. It’s easy to see that US cannabis stocks could inherit a huge chunk of the pie if federal law finally legalizes the commodity.

All in all, picking the right US cannabis stocks could mean massive gains if the plant is ultimately legalized federally. It’s worthwhile for investors to do their research and to be aware of the risks and potential benefits involved in investing in the space.

For a list of US cannabis stocks to consider, click here.

How to invest in cannabis: A side note

Many companies in the cannabis space have begun to veer in one direction or another.

For example, some of the largest marijuana producers have moved towards deals with beverage or pharmaceutical companies for the production of novel new products. Others in the space continue to pursue innovation in the recreational market.

The beverage side in particular has seen interest from companies, with cannabis firms partnering with brew businesses. One example is Canopy Growth (NYSE:CGC,TSX:WEED), which has teamed up with Constellation Brands (NYSE:STZ), a leading producer in the alcoholic beverage industry.

It’s important to be aware that each niche has its own possibilities and challenges. For instance, while many market participants are convinced of the promise in beverages, these drinks have been hampered by strict marketing rules, among other factors.

Another aspect to consider is whether to pursue big caps or small caps. That has a lot to do with personal comfort. While big caps are often regarded as more stable than small caps, in the cannabis industry there’s been considerable volatility.

 

Cannabis Market Could Reach $5.5B By End Of Year

 
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How to invest in cannabis: Cannabis ETFs

If you really know your cannabis companies, then you could enjoy larger gains by simply investing in those specific firms. However, if you aren’t overly familiar with the cannabis space or you are new to it, it could be a good idea to check out the cannabis exchange-traded funds (ETFs) available.

A cannabis ETF gives you exposure to several different cannabis stocks and takes the guesswork out of cherry picking which stock to bet on. One issue with ETFs is that like any other group dynamic, if one stock drops off it brings the whole fund down proportionally with it. Of course, the opposite is also true.

Recently investors have seen the addition of new ETFs offering exposure to the US market, including firms with entries into the hemp space, thanks to the sales of CBD products.

For a list of cannabis ETFs to consider, click here.

How to invest in cannabis: Final thoughts

No matter which way you slice it — or grind it, in this case — the cannabis market is an exciting business to invest in right now. Whether you invest in cannabis ETFs or Canadian or US marijuana stocks, or if you’re still waiting on the sidelines for more maturity from the types of cannabis companies trading, this industry is one to watch, and one that looks like it’ll keep climbing in the future.

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TransCanna (CSE: TCAN) (FSE: TH8) (“the Company”) is pleased to announce that plants are going into its first crop management site today – a greenhouse in Wesley, California.

The Company partnered with the 3rd generation cannabis farmers at 365 CannaFarms to consult on the construction of the state-of-the-art, computer-controlled greenhouse and to help manage the crop for the client, Central Valley Growers. The entire crop is comprised of premium genetic strains from Lyfted Farms, TransCanna‘s wholly-owned subsidiary.

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Acquisition strengthens clinic portfolio for mental health treatment using psychedelic-assisted therapies

Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI), a mental health care company advancing innovative treatments and safe, evidence-based psychedelic-assisted therapies, today announced it has closed its acquisition of the Neurology Centre of Toronto (NCT), a leading Canadian provider of clinical neurologic care. The purchase agreement was previously announced on July 6, 2021 .

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