Does Canopy Growth's Cannabis 2.0 Delay Really Matter?
Canopy Growth (NYSE: CGC) started talking publicly about cannabis-infused beverages more than two years ago when Constellation Brands made its first investment in the Canadian cannabis producer. At the time, though, the company couldn't sell cannabis drinks because regulations hadn't been finalized for legalizing cannabis-derivative products, including edibles and beverages.
Health Canada's cannabis derivatives regulations went into effect on Oct. 17, 2019, paving the way for what's been dubbed the Cannabis 2.0 market. As expected, Canopy Growth moved quickly to take the necessary steps to launch cannabis beverages. The company announced in December that its first beverage brands would hit the market in early January.
That was then. Canopy stated last week that it won't introduce new cannabis-infused beverages as quickly as it anticipated. But does the company's Cannabis 2.0 delay really matter?
Source Fool.com
