- Canopy Growth is rolling out five new pre-roll products across its 7ACRES and Hiway brands
- The company launched a suite of new products only last month, followed by a value-accretive Q3 FY2024 earnings report
- Canopy Growth is a North American cannabis and consumer packaged goods company with a brand portfolio including Doja, 7ACRES, Tweed, Deep Space, Martha Stewart CBD and Storz & Bickel
- Canopy Growth stock is down by more than 80 per cent year-over-year
Canopy Growth (TSX:WEED) is rolling out five new pre-roll products across its 7ACRES and Hiway brands.
The 7ACRES products include Smooth Burners pre-rolls (2 x 0.7g), which feature a hybrid strain designed for “the smoothest and slowest burn,” according to Thursday’s news release that adds the products are enhanced by a new filter built for optimized airflow. The strain is composed of GMO Zkittlez and Funky Zktlz lineage and offers a potency from 22-28 per cent THC, the compound most commonly used to experience cannabis’ psychoactive effects.
The Hiway products include Hiway Water Hash infused pre-rolls (3 x 0.5g), a high-THC, flavour-forward blend of indica or sativa cultivars evenly rolled with bubble hash, and Hiway Roadies (20 x 0.35g), a bulk pack in sativa or indica coming in at 18-24 per cent THC. Strains in the new Hiway products may change from lot to lot to showcase the variety of flower on offer.
The new pre-roll products, available now through provincial online stores and select retail locations, continue Canopy Growth’s momentous start to the year, which has already included a January launch from Tweed, 7ACRES and Spectrum Therapeutics, a solid Q3 FY2024 earnings report marked by global growth, a significant improvement in free cash flow and the expectation of positive adjusted EBITDA by the end of FY2024, and a US$35 million institutional capital raise to further the company’s ongoing restructuring.
Management commentary
“Forging ahead with our commitment to innovation, we’re excited to offer new pre-roll offerings that meet consumers across a range of occasions and price points,” Dave Paterson, president of Canadian operations at Canopy Growth, said in a statement. “With convenience and enjoyment in mind, our new 7ACRES Smooth Burners offer a high-quality pre-roll with a unique filter design enabling a smooth and slow session, while our new Hiway Water Hash Infused pre-rolls provide consumers a premium experience in a value package.”
About Canopy Growth
Canopy Growth is a North American cannabis and consumer packaged goods company. Its brands include Doja, 7ACRES, Tweed, Deep Space, Martha Stewart CBD and Storz & Bickel.
Canopy Growth stock (TSX:WEED) is down by 1.50 per cent, trading at C$4.58 per share as of 9:37 am ET. The stock is down by more than 80 per cent year-over-year.
The company has positioned itself to capitalize on U.S. cannabis legalization through its rights to Acreage Holdings, a vertically integrated multi-state cannabis operator, Wana Brands, a cannabis edibles brand, and Jetty Extracts, a producer of cannabis extracts and a pioneer of clean vape technology.
Join the discussion: Find out what everybody’s saying about this cannabis stock on the Canopy Growth Bullboard, and check out the rest of Stockhouse’s stock forums and message boards.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
