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.

More at https://www.forbes.com/sites/lisettevoytko/2019/11/07/drake-launches-cannabis-venture-with-beleaguered-canopy-growth/#3eaf8ef4a7ef