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MARKETS LIVE BLOG:

STOCKS RISE, LED BY STELLAR ALPHABET, MICROSOFT EARNINGS

Results from 'Magnificent Seven' duo show cloud revenue boosted by strong AI demand

Today's Research Reports on Stocks to Watch: Canopy Growth and GW Pharmaceuticals

ACCESSWIRE

NEW YORK, NY / ACCESSWIRE / June 20, 2018 / As Canada officially legalized recreational marijuana this week, shares of Canopy Growth skyrocketed after announcing a multi-year agreement with Neptune Technologies & Bioressources Inc. Shares of GW Pharmaceuticals were modestly in the red despite any news. The company has a cannabidiol epilepsy drug that is expected to get FDA approval this month.

RDI Initiates Coverage on:

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

GW Pharmaceuticals plc
https://www.rdinvesting.com/report/?ticker=GWPH

Canopy Growth Corporation shares closed up almost 4% on Tuesday with nearly 4.5 million shares traded. The stock hit a brand new high of $32.88 yesterday after it was revealed that Neptune Technologies & Bioressources Inc. has entered into a multi-year agreement with Canopy Growth to supplement Canopy Growth's extraction, refinement, and extract product formulation capacity. President of Canopy Growth, Mark Zekulin, remarked, "Extract products are key to the future of the global cannabis industry and we're taking the right steps to significantly increasing our production capacity to capture this opportunity. We were the first to introduce extract based cannabis Softgels and this agreement supports our development of a wide range of extract products to meet the demand of these growing market segments as we prepare our operations for greater product diversification." He added, "When combined, this significantly increased extract production capacity, coupled with extract focused research, positions Canopy Growth to meet the demand of patients and consumers in Canada and around the world. Neptune's existing throughput capacity will complement Canopy Growth's owned extraction capacity to support extraction requirements for the world's largest cannabis production platform totaling 5.6 million sq. ft."

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

GW Pharmaceuticals plc shares were fairly flat in Tuesday trading on about 292,000 shares traded. There was no particular news from the company yesterday, but it was a big day for the marijuana arena after Canada legalized recreational marijuana cross the country. GW Pharmaceuticals is a biopharmaceutical company that is focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform in a broad range of disease areas. The company's seizure medicine, Epidiolex, is made from the marijuana plant but without THC. It was in April that the company provided “substantial evidence” of the drug’s effectiveness in treating two rare forms of epilepsy. The FDA said in a report, "Although the review is still ongoing, the risk-benefit profile established by the data in the application appears to support approval of cannabidiol for the treatment of seizures associated with LGS [Lennox-Gastaut syndrome] and DS [Dravet syndrome.]"

Access RDI’s GW Pharmaceuticals plc Research Report at:
https://www.rdinvesting.com/report/?ticker=GWPH

Our Actionable Research on Canopy Growth Corporation (NYSE: CGC) and GW Pharmaceuticals plc (NASDAQ: GWPH) 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 reviewed by Nadia Noorani, CFA® charter holder. 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