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Home Investments Marijuana Stocks

Boston-Based Money Manager Buys 200,000 Shares of Canopy Growth

Jacob Ellman by Jacob Ellman
August 28, 2018
in Marijuana Stocks, Trading
Canopy Growth Announces Leadership Transition

Image Screengrab via Youtube

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In a recent 13-F Filing, Boston-based money manager Hellman, Jordan Management Company, Inc. disclosed a new 200,000 share long position in Canopy Growth Corp. (NYSE:CGC) (TSX:WEED).

While the 200,000 share position was valued at $5,858,000 USD at the time of the filing, Hellman, Jordan’s stake in the high-flying Canadian licensed producer is now worth approximately $8,750,000 USD based on a last traded price of $43.75 for shares of CGC on the NYSE.

With an estimated $124,678,000 in assets under management, this position makes up a sizable sliver of the firm’s portfolio.

According to Bloomberg, “the firm employs a combination of fundamental and quantitative analysis with top-down and bottom up stock picking approach to create its portfolio.”

As a self-described “specialty equity investment manager with a focus on exceptional growth opportunities,” Hellman, Jordan Management Company has already hit the ball out of the park on this pick with a return of nearly 50% already.

Catalysts including the upcoming go-public transaction for Canopy Rivers Corporation, a subsidiary of Canopy Growth, have caused the share price to rise substantially since the company announced a $5 billion CAD investment from liquor conglomerate Constellation Brands (NYSE:STZ).

We’ll be watching 13-F filings closely to see how long Hellman, Jordan Management Company holds their position. In the meantime, be sure to subscribe to our Canopy Growth Corp. Updates here so you never miss an important update.

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Tags: Canopy Growth Corp.licensed producerNYSE:CGCTSX:WEED

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Jacob Ellman

Jacob Ellman

Jake Ellman is the Founder and CEO of DMO Holdings. DMO Holdings is the owner and operator of DailyMarijuanaObserver.com, MJobserver.com, and more. Prior to joining the cannabis industry, Jake was a derivatives trader on Wall Street. His thought leadership in the marijuana space has been featured on Cheddar, Investing.com, Seeking Alpha, Investopedia, The Fresh Toast, and more.

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