CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • Fund
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$60,418.00
  • ethereum
    ETH$2,166.78
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    Home » Cannabis Stock News » Canadian Cannabis Giant Canopy Growth Bought AgriNextUSA to Accelerate US Growth

    Canadian Cannabis Giant Canopy Growth Bought AgriNextUSA to Accelerate US Growth

    Author: Asif Imtiaz

    Last Updated Mar 21, 2019 @ 16:27

    Canopy Growth’s growth ambitions in the United States got a new leg up earlier today when the Canadian Cannabis giant announced to have acquired American hemp cultivator AgriNextUSA. The financial details of the acquisitions are yet to surface.

    Commenting on the acquisition of AgriNextUSA, Bruce Linton, the CEO of Canopy Growth, said that “The United States is the next stop on Canopy Growth’s desired path to becoming a leading, revenue-generating company focused on all aspects of cannabinoids and their potential.”

    Why Canopy Growth Acquired AgriNextUSA

    AgriNextUSA remained one of the most vocal advocates for regulating hemp in the United States that was helping to build a legalized hemp industry in the country. With the acquisition of AgriNextUSA, Canopy Growth will be able to accelerate its growth in several key states amid the 2018 Farm Bill that opened up the possibility for treating hemp as a crop.

    Canopy Growth has been eyeing to expand into several U.S. states in anticipation that Cannabis products will soon be regulated and the acquisition of AgriNextUSA would open the door for them to expand their operations in the country.

    CEO of AgriNextUSA to Join Canopy Growth as a Strategic Adviser

    Geoff Whaling, the CEO of AgriNextUSA, is a hemp pioneer and remains a leading advocate for the industry in the U.S. After the acquisition, he is planning to join the Canopy Growth USA as a strategic adviser that will further bolster the core competency of the company.

    “Our significant investments, acquisitions, and compilation of talented leaders such as Geoff will position us for swift expansion throughout the United States. By collaborating with a pioneer like Geoff who has been involved with our team since our earliest days in 2013, we will aim to turn hemp supplied by American farmers into a wide range of products,” said Bruce Linton, the CEO of Canopy Growth, while welcoming Mr. Whaling to the company.

    Technical Price Analysis of Canopy Growth

    Canopy-Growth-March-21-2019Financial terms of the deal were not immediately released with the announcement, the news did not have any immediate impact on the stock price of Canopy Growth. However, we see a Symmetrical pattern forming on the daily time frame as well as on the Stochastic RSI oscillator.

    As the stock is trading around the pivot zone around $46.65 per share, if there is a breakout attempt on the downside, the $43.00 per share level should provide adequate support. On the other hand, if we see the stock breaking out above the Symmetrical Pattern, investors should wait for the price to close above $50.00 per share before increasing their exposure to the company.

    The formation of Symmetrical patterns will indicate major price movements in the future and given the latest acquisition of AgriNextUSA, there is a high probability that the stock price of Canopy Growth will move upward from here.

    SPECIAL OFFER (Sponsored)
    Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Asif Imtiaz
    More posts by this author

    Asif worked as a prop trader for almost a decade, and later he managed trading operations for one of the largest foreign exchange strategy developers in Europe. Currently, he works as a trading consultant to several brokers and writes about various tech and financial topics. You can reach him at contact@asifimtiaz.com

    button
  • bitcoin
    BTC$60,418.00
  • ethereum
    ETH$2,166.78
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    ADVERTISEMENT
    mindsync
    bigomex
    Bitcoin Editorials
    4 Reasons Altcoin Season 2021 Has Officially Started

    4 Reasons Altcoin Season 2021 Has Officially Started

    After Tesla: Is Apple Eyeing Bitcoin? What We Could Expect to See Next (Opinion)

    After Tesla: Is Apple Eyeing Bitcoin? What We Could Expect to See Next (Opinion)

    What Is NFT? Non-Fungible Tokens Guide For Dummies

    What Is NFT? Non-Fungible Tokens Guide For Dummies

    What is BitClout? The Latest Crypto Hype – Is It Safe?

    What is BitClout? The Latest Crypto Hype – Is It Safe?

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    What is Dogecoin (DOGE)? 5 Facts About the Crypto That Started as a Joke 

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top