Growing flowers of cannabis intended for the medical marijuana market are shown at a facility in Moncton, N.B.Ron Ward/The Canadian Press
Globe editors have posted this research report with permission of Beacon Securities Ltd. This should not be construed as an endorsement of the report's recommendations. For more on The Globe's disclaimers please read here. The following is excerpted from the report:
Since being added to the S&P/TSX Composite Index, Canopy's shares are up 52 per cent, making it the fourth-best performing stock of the 250 in the index. Over the past three months, one month and week to date, it has been the best performing investment in the S&P/TSX Composite Index. We believe this performance is increasingly compelling larger fund managers to take a closer look at the company, want to meet with management, learn more about its business model and plans – and, for those who haven't yet, consider an investment in it.
Having hosted several break-the-ice meetings for Canopy's management with blue-chip institutions ourselves, we feel they are becoming increasingly comfortable with the company, and thus the sector at large.
Simply put, we feel institutional investors cannot afford to ignore this company any longer.
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