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Constellation Brands (NYSE:
STZ), Canopy has delivered a strong lineup of “Cannabis 2.0” products ranging from chocolates to beverages. The company’s branding efforts have paid off. Its shares are down less than a third from their 2018 peak while the rest of the industry has plummeted.
CGC stock might not be the biggest winner gainer in 2021 – investors price its high-quality shares at a premium. But long term, it’s the company that’s most likely to become the next Philip Morris. Its parent Constellation Brands already owns and distributes Corona, Modelo, Meiomi Wines and Svedka Vodka, among others. And with a comprehensive portfolio of existing products, Canopy can quickly slot into distribution channels as individual states each legalize marijuana.
Horizons Psychedelic Stock Index ETF is now listed on Toronto’s NEO exchange under the symbol ‘PSYK.’
PSYK is the first exchange traded fund providing exposure to the burgeoning industry of medicinal psychedelics.
The ETF is managed by
Horizons ETFs Management, a Canadian ETF firm that’s part of the portfolio of Mirae Assets. In 2017, Horizons released the
Marijuana Life Sciences Index ETF (TSX:HMMJ), cannabis’ longest running ETF. PSYK will give investors exposure to the leading public companies undertaking this important research and development of treatments for the more than 700 million people globally that, according to the World Health Organization, suffer from some sort of mental illness, addiction or eating disorder, Horizons ETFs CEO Steve Hawkins said.