New York (CNN Business) Canopy Growth's cannabis business is booming thanks to the legalization of recreational marijuana in Canada last fall. The company's strong results came a few days after rivalalso posted a surge in sales during its latest quarter. The company generates about a third of its sales from cannabis oils and softgel capsules. The Corona owner controls nearly 40% of Canopy Growth, a stake now worth more than $6 billion. Last month, Canopy Growth announced that it received a license from New York state — where Constellation Brands is based — to process and produce hemp.

Source: CNN February 15, 2019 18:00 UTC