Snoop Dogg helps lead Canadian marijuana shares higher
Canopy Growth Corp. jumped to a record high, and other Canadian cannabis growers gained, after unveiling a line of marijuana products for the domestic market in a partnership with rapper Snoop Dogg.
The Smiths Falls, Ontario-based company soared as much as 17 per cent and was up 9.2 per cent to $5.44 at 11:12 a.m. in Toronto trading. The shares have climbed 84 per cent this year, heading for a third straight annual gain.
Tweed Inc., a subsidiary of Canopy, will begin selling three varieties of cannabis under the “Leafs by Snoop” brand in Canada in October, the company said in a statement. The two first announced they would work together in February, and have been developing product lines since. Snoop Dogg also markets marijuana products in Colorado under the same label.
Smaller marijuana producers also rallied on the news, with Vancouver-based Aurora Cannabis Inc. up 22 per cent to...
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