Canopy Growth CEO Bruce Linton Says Global Cannabis Domination is the Goal
*By Chloe Aiello*
Canopy Growth CEO Bruce Linton won't guarantee investors dividends. What he will promise is a stake in global cannabis domination.
"If people want a dividend, we are probably not the right stock. If they want some entity aimed at dominating a global opportunity that started in Canada, we are probably your best bet," Linton told Cheddar on Friday, one day after the company reported a massive spike in third-quarter revenue.
Beverages ー and other non-flower products ー are shaping up to be a major focus for Canopy as Canada gears up for [its second wave of cannabis legalization](https://cheddar.com/media/cheddars-crystal-ball-the-2019-outlook-for-cannabis-and-hemp), which will open the door for cannabis-infused goods like vapes, edibles and beverages by mid-October 2019.
"The biggest opportunity is to be planning a year from now not to be selling very much dried cannabis flower, compared to today," Linton said.
That applies both to medical cannabis, which can be sold as an insurable product, and higher-margin recreational goods, like edibles, which can sell for higher prices even with smaller quantities of cannabis.
"I think the margin growth could be faster and bigger because when you sell dried cannabis you are selling it at the least advanced state," Linton said. "I think you are going to see margin opportunities just keep going up as real products are created and put into markets of both medical and \[recreational\]."
Canopy Growth ($CGC) reported [third-quarter earnings](https://www.canopygrowth.com/wp-content/uploads/2019/02/Canopy-Growth-Reports-Third-Quarter-Fiscal-Year-2019-Financial-Results-1.pdf) late Thursday evening. The massive marijuana producer grew its revenue an astounding 282 percent year-over-year, but missed analyst estimates on earnings, reporting a C$0.38 loss. The company also announced that Chief Financial Officer Tim Saunders will leave the company this year. Shares were surging 4 percent on Friday.
Linton said he expects Canopy will be profitable at least in Canada by the end of the year, as the company begins to make use of investments it has made in extraction and production.
"What we've done is made really significant, thoughtful investments, all of which are near the finish line of being eligible to produce the cannabis, create the extraction platform, and make things like beverages," he said.
For full interview [click here](https://cheddar.com/videos/canopy-growth-ceo-talks-earnings).
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.