Grower surpasses 1 billion Canadian dollars in valuation
Canopy Growth Corp., the federally licensed Canadian cultivator that made history earlier this year when it listed on the Toronto Stock Exchange, distinguished itself again Monday when its stock closed at 11.16 Canadian dollars, making it the first cannabis company to be valued at more than $1 billion ($743,060,740).
Canopy is now valued at almost CA$1.3 billion, according to CBC News. The Smith Falls, Ontario, company reported a profit of CA$5.4 million for the quarter that ended Sept. 30 stemming from almost CA$8.5 million in revenue.
Canopy has nearly quadrupled its patient count from 6,200 patients one year