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Today’s Research Reports on Stocks to Watch: Canopy Growth and Cronos

ACCESSWIRE

NEW YORK, NY / ACCESSWIRE / October 16, 2018 / Pot stocks were jumping ahead of Canada beginning legal recreational marijuana sales on Wednesday. Shares of Canopy Growth and Cronos Group were among several marijuana stocks to see gains on the anticipation of Canada’s historical event, but each company also had a positive development. Canopy Growth announced that it has acquired a U.S. hemp researcher to help it grow marijuana better and Cronos has partnered with Technion Research & Development Foundation for cannabinoid-based skin care treatments.

RDI Initiates Coverage on:

Canopy Growth Corporation
https://www.rdinvesting.com/report/?ticker=CGC

Cronos Group Inc.
https://www.rdinvesting.com/report/?ticker=CRON

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Canopy Growth Corporation shares were up 14.24% at the close on Monday on nearly 24 million shares traded. The marijuana company said it has bought a Colorado-based company called Ebbu that will "complement and accelerate" its goals of expanding into newer types of consumer products. Canopy Growth will pay 25 million Canadian dollars in cash and issue 6,221,210 common shares to the research company in exchange for the assets being acquired. "Intellectual property and research and development advancements achieved by ebbu's team apply directly to Canopy Growth's hemp and THC-rich cannabis genetic breeding program and its cannabis-infused beverage capabilities," stated the company. Cowen analyst Vivien Azer remarked on the acquisition and said, "The deal will be complementary to Canopy's current hemp operations in Saskatchewan, Canada. In addition, the transaction provides an opportunity for Canopy to reduce the cost of its CBD [cannabidiol] production by applying ebbu's intellectual property."

Access RDI’s Canopy Growth Corporation Research Report at:
https://www.rdinvesting.com/report/?ticker=CGC

Cronos Group Inc. shares were up a little over 19% on Monday with an additional 6.64% seen in extended after hours trading. The marijuana company has struck a deal with Israel Institute of Technology’s Technion Research and Development Foundation of the Technion to work on sponsored research into seeing how cannabinoids can affect some skin issues. “We believe that the potential applications of cannabinoids to regulate skin health and treat skin disorders are vast, and we are excited to begin exploring these applications through our partnership with Technion,” said Mike Gorenstein, CEO of Cronos. “Using rigorous data to develop efficacious topical and transdermal formulations will be key to creating differentiated products that provide quality treatments to our consumers and strengthen our brand portfolio.” The research will be led by Technion faculty members Dr. David Meiri, Head, Laboratory of Cancer Biology and Cannabinoid Research and Dr. Yaron Fuchs, Head, Laboratory of Cancer Biology and Cannabinoid Research. Cronos COO David Hsu stated, "We are thrilled to begin this joint research with Dr. Meiri and Dr. Fuchs, who are among the most respected researchers in their fields. Dr. Meiri's extensive cannabis strain database and capabilities in analytical testing provide a strong foundation for researching Dr. Fuch's world renowned stem cell organoids. Dr. Meiri and Dr. Fuchs' expertise coupled with Cronos Group's competencies in the cannabis industry make us optimistic about the future opportunities from this collaboration."

Access RDI’s Cronos Group Inc. Research Report at:
https://www.rdinvesting.com/report/?ticker=CRON

Our Actionable Research on Canopy Growth Corporation (NYSE: CGC) and Cronos Group Inc. (NASDAQ: CRON) can be downloaded free of charge at Research Driven Investing.

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Disclaimer: This article is written by an independent contributor of RDInvesting.com and Nadia Noorani, a CFA® charter holder, has provided necessary guidance in preparing the document templates. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information please read our full disclaimer at www.rdinvesting.com/disclaimer.

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SOURCE: RDInvesting.com