Drake becomes the latest celeb to venture into cannabis business

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The joint venture (pun intended), dubbed More Life Growth Co. The firm owned 10,881 shares of the marijuana producer's stock after acquiring an additional 2,685 shares during the quarter.

Former Canopy Growth Corp.co-chief executive officer Bruce Linton is joining US multi-state operator Vireo Health International Inc.as its new executive chairman, an appointment he hopes will sharpen the company's science-rooted approach to cannabis and strong focus on intellectual property.

A number of other research firms also recently commented on CGC.

"Under the deal, the multi-Grammy award victor will take a 60% stake in a subsidiary of stock-market listed Canopy Growth (WEED.TO), which produces cannabis in nearby Scarborough, Ontario", the news outlet wrote. Inc. grew its position in shares of Canopy Growth by 0.7% during the 2nd quarter. Finally, North Star Investment Management Corp. bought a new position in Canopy Growth in the 3rd quarter valued at about $36,000. Huntington National Bank raised its holdings in Canopy Growth by 199.7% in the 2nd quarter. Institutional investors and hedge funds own 9.16% of the company's stock. Linton, who also serves advisory roles at other USA and Canadian cannabis companies said one of Vireo's main advantages is its focus on patents and research partnerships with US academic institutes on medical marijuana. $48's average target is 142.67% above currents $19.78 stock price.

Drake's persona could turn up in less direct ways on More Life Growth products, if past examples of celebrity partnerships are any sign. Benchmark reduced their target price on Canopy Growth from $100.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, August 16th. The stock of Canopy Growth Corporation (NYSE:CGC) earned "Buy" rating by Seaport Global on Monday, August 26. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. Canopy Growth has a consensus rating of "Hold" and a consensus price target of $47.21. The company has market cap of $6.63 billion. The company's fifty day simple moving average is C$29.25 and its 200-day simple moving average is C$44.91.

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