Canopy Growth Corp (NYSE:CGC) Has Now Listed on the New York Stock Exchange

It has been a while since we reviewed marijuana companies and over this period, it is safe to say that a lot has happened. Cannabis seems to be the ‘golden herb’ as companies engaging in its trade are currently making a kill with their investors smiling their way to the bank.Among the list has been Canopy Growth Corp (NYSE:CGC) – previously Canopy Growth Corp (OTCMKTS:TWMJF) – a trendsetter within the cannabis space.The company has been a forerunner within the cannabis industry, driving innovation as well as being among Canada’s first cannabis companies to hit the billion-dollar mark. Now, the company has checked another milestone and scored a position in the history books by being the first all cannabis company to be listed on the New York Stock Exchange.This follows a series of trend-setting events which the company has previously been part of such as being the first publicly traded and regulated (federally) marijuana company in North America as well as the first all cannabis company to be included in the S&P/TSX Composite index.With such a history, the company has thus been enjoying an amazing price run. Their valuation has been nothing but impeccable. Their current price stands at over $36 per share and their trend seems to be constantly on the rise as seen in the chart below: CGC Daily ChartFrom the above, it is clear that Canopy Growth Corp is not new to the trendsetting space nor to cannabis. The move, therefore, comes as no surprise to the cannabis community nor to the financial markets.This piece thus goes further to assess its ramifications to the operations and financials of the company going forward.History of Canopy Growth CorpCanopy Growth Corp is a licensed cannabis producer. The company was formed back in 2009 with their headquarters in Smiths Falls, Canada.The company has, since incorporation, been focused on meeting the ever-rising demand for cannabis and other cannabis products within Canada and America. They have, therefore, positioned themselves for success and established procedures to ensure that they are the best in this field.Through their subsidiaries, CGC had already established itself within the Canadian market as well as ventured globally. They already had a diversified range of products which included, but not limited to, oils, soft-gel and dried substance.Move to NYSE: How Did We Get Here?The migration has now begun for companies within the marijuana space.Over the period since the end of 2017, companies within the marijuana space have been focused on ensuring that they are well positioned both financially and operationally to meet the growing marijuana demand across the globe. To do so, they have had to make significant capital expenditures, diversified their products as well as market broadly across the globe. As a result, the fear and dogma that once surrounded the use of cannabis has since been lifted and the market now accepted.This milestone was made more elaborate by the fact that the Canadian government went ahead to accept the commercialization of cannabis commercially and its legalization federally starting July 2018.Through this, organizations which had positioned themselves within the Canadian market ended up reaping the benefits of higher valuations following this announcement.Canopy Growth Corp has been at the forefront of all these developments. This led to the investment they received from Constellation Brands (NYSE:STZ), a fortune 500 company within the alcoholic beverage sector.All in all, it seems like Canopy Growth has done a lot to secure their current position and are expected to do a lot more going forward as seen in the next section.Move to NYSE: What Next?The move to a well-known and organized exchange comes with its perks: key being the access to the large pool of financing available through the capital markets – both equity and debt financing with other benefits being the strong brand that is created as well as higher liquidity on their shares as a result of trading.With the company having adopted the strategy to venture across the globe, it will not be long before they seek more financing to do so. The NYSE provides them with one of the largest platforms on which this can happen.The above is echoed by their CEO

"We're a company focussed on leadership, vision, and integrity and listing on one of the most prestigious exchanges in the world validates the level of execution and ambition our team has demonstrated…I am exceptionally proud of our team for what they have built and what we will continue to build…"

Source:Over time, the company is expected to grow significantly especially as a result of their operations within Canada which is a month from legalizing marijuana federally.As such, it will be interesting to see how the company undergoes this morphosis as they continue to venture into the major leagues.ConclusionCanopy Growth Corp (NYSE:CGC) represents one of the success stories in the market. The company is currently in one of the most lucrative sectors in the economy and in one of the largest exchanges in the USA. As such, it will not be long before they actualize their goal: to be one the dominant cannabis player on the planet.We will be updating our subscribers as soon as we know more. For the latest updates on CGC, sign up below.Disclosure: We have no position in CGC and have not been compensated for this article.