You’d be under a rock if you hadn’t heard about Drake’s deal with Canopy Growth. He joins an already overcrowded market.
Here’s the key points
- Drake, whose net worth Forbes estimated to be $150 million in 2019, teamed up with Canopy Growth, the world’s biggest cannabis company by market value.
- The company is 60% owned by Drake, with Canopy holding the remaining 40%.
- According to More Life’s trademark filing, the company wants to sell weed along with a host of medicinal herb products and potentially a full range of clothing.
- Drake teased the announcement on his Instagram, posting a video with the caption simply reading “@morelife.”
- But Canopy has stumbled through 2019, having fired its founder in addition to suffering a 60% drop in its share value and having half a billion dollars in negative cash flow by August.