Canopy Rivers CEO: Market Prematurely Looking for Profitability
Narbe Alexandrian, president and CEO of Canopy Rivers (TSX:RIV,OTC Pink:CNPOF), thinks the market is a little too focused on profits right now, even though the marijuana play is at an early stage.
The executive spoke with the Investing News Network (INN) about the state of investments for cannabis companies as his own firm continues to evaluate the sector daily. As the investment arm of Canopy Growth the firm constantly reviews potential new partners in the space.
During his own panel at the pre-con portion of the MJBizConINTL in Toronto last week, Alexandrian expanded on how he views the long term development of the marijuana investment space.
He said the growth of the global cannabis market will be defined by the following jurisdictions: Canada, New York, Europe and California.
The executive asked investors not to pay too much attention to the state of the public stock market right now —following a continued sell-off this summer in the marijuana space — explaining the future of cannabis is still bright.
“In my perspective this is an awesome buying opportunity if you truly believe this is going to be a US$50 billion industry,” he said.
One aspect that will help the entire sector is what he referred to as the “Big Mac” effect for cannabis products, meaning when consumers know and trust products by name and know they will receive the same thing every time. Consistency will be a key for the adoption of marijuana, the executive said.
Watch the interview above to hear the rest of Alexandrian’s comments from the cannabis event.
Don’t forget to look for the rest of our coverage of MJBizConINTL, with exclusive interviews and more insights from the show. You can also follow us @INN_Cannabis for real-time news updates!
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
The post Canopy Rivers CEO: Market Prematurely Looking for Profitability appeared first on Investing News Network.