What’s the deal with …
Pets?
By Spiro Sertsis, CPA, CMA
246
While you were sipping on chamomile tea, wrapped in your Snuggie, in front of a roaring fire reading CannaInvestor Magazine Canada way back in ice cold February, you may have stumbled up an article I wrote called “Man’s Best Friend”. Remember it?
Well chances are you probably don’t, but in it, I discussed the burgeoning pet industry, and how options for treating our four-legged friends with CBD were becoming more and more popular. Back then, Constellation Brands had just invested in 5% of Canopy Growth Corporation bringing the functional and alcohol beverage market into the spotlight. My how things have changed… or have they?
Just last week an even BIGGER announcement was made and Constellation Brands decided once again, to invest a massive chunk in Canopy Growth. Of course, once again, I will be reviewing the pet market during this time. Although the two seem like polar opposites, there are some parallels. The biggest: DIVERSIFICATION. By definition, Diversification occurs when a business develops a new product or expands into a new market. Often, businesses diversify to manage risk by minimizing potential harm to the business during economic downturns