Corona Owner's Investment A Turning Point For Cannabis

By Stephen Lenn (September 11, 2018, 2:09 PM EDT) -- Developments and reactions since the recent announcement of the $3.9 billion investment in Canopy Growth, a Canadian cannabis company, by Corona parent company Constellation Brands support the conclusion that it could be a watershed development. It is almost certain to vastly expand available sources and amounts of capital, increasing investment and capital formation in the cannabis industry, thus fueling and accelerating both continued rapid growth and consolidation.

The size, source, nature and notoriety of the Constellation investment will almost certainly ripple through the capital chain.

First, it further "legitimizes" the cannabis industry, continuing what seems to be its inexorable movement out of the...

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