Canadian cannabis company Canopy Growth Corp. /zigman2/quotes/200603886/composite CGC -2.09% /zigman2/quotes/202205609/delayed CA:WEED -2.54% said Thursday it is planning to launch a cannabis wellness company with local rapper Drake based in his hometown of Toronto. No financial details were available, but the company plans to share some in the coming weeks. Canopy's U.S.-listed shares rose 3.2% premarket but are down 28% in 2019, while the ETFMG Alternative Harvest ETF /zigman2/quotes/204332491/composite MJ +0.80% has fallen 23% and the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.53% has gained 23%.
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Ex-Canopy CEO Bruce Linton joins U.S. cannabis company Vireo Health