Canopy Growth CEO Sells Shares for $3.7mm

Canopy Growth (TSX: WEED) (OTC: TWMJF) CEO Bruce Linton has sold about 10% of his holdings in the company, disposing of 350K shares in two transactions on March 29th at an average price of $10.64, realizing proceeds of $3.724mm.

Canopy Growth Bruce Linton Sales


Following the sale, Linton’s beneficial interest is 3.2mm shares, including 2.766mm shares held in HBAM Holding Inc., 70,800 shares held in his name, 105,486 shares held at GMP Securities in trust and 250K options to acquire shares at $2.95. Linton last sold shares in July, when he sold 400K shares for approximately $1.1mm.

Linton’s sale was made just as the company’s fiscal year came to an end. At the time, the stock was up 16.4% since year-end. The stock has appreciated by over 300% during the past year:

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Exclusive article by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

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