The Future Of Canopy Growth Corp (OTCMKTS:TWMJF) Looks Positive Due To These Growth Drivers

Canopy Growth Corp (OTCMKTS:TWMJF) has secured a strong lead in the marijuana industry but numerous other players threaten this lead. However, analysts believe that the company might maintain its lead a while longer due to noteworthy growth, particularly from three major factors.

According to the company’s latest earnings report, the fourth quarter of 2017 was characterized by impressive growth with revenue at $15.9 million, thus marking a 127 percent increase compared to the revenue reported in Q4 of the previous year. The number of patients registered to the company also surged by 138 percent. The company is expected to continue registering growth for three major reasons.

Nasdaq listing

Canopy Growth is currently working on securing a listing on Nasdaq and this is a critical move towards securing more legitimacy in the U.S and this will help to attract more investors. This will in turn help strengthen its stock price in the future. A significant number of investors are not comfortable with buying stock over-the-counter from Canadian stock firms. A listing on Nasdaq would go a long way in encouraging more investors to jump on board.

Alcaliber bid

Bloomberg recently reported that Canopy Growth is one of the firms that have placed bids for Alcaliber which is based in Spain. The announcement highlights the direction that the company is taking in the future as far as market reach is concerned. Canopy’s most likely interested in Alcaliber because of its strategic location in the European market. Such an acquisition aligns with the company’s plans to tap into a global market and this particular acquisition could help tap into the European market.

Becoming a premier brand

Canopy Group is well positioned to become a leading brand in Canada especially following the legalization of marijuana in Canada. It already has a well-established network and a legal status for pot should kick things into high gear, allowing the company to reap massive gains. Additionally, Canopy is one of the marijuana companies that pay close attention to the quality of its products and while this makes it appealing to customers, it also means it could garner a significantly larger market once legalization takes place.

Canopy Group stock closed the latest trading session on Thursday at $23.90.