Please ensure Javascript is enabled for purposes of website accessibility
Free Article Join Over 1 Million Premium Members And Get More In-Depth Stock Guidance and Research

Canopy Growth's Martha Stewart CBD Line Scores First Nationwide Retail Deal

By Eric Volkman - Dec 8, 2020 at 7:13PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The lifestyle guru's latest brand extension makes its way to The Vitamin Shoppe shelves.

The Martha Stewart signature line of cannabidiol (CBD) products offered by Canopy Growth ( CGC -3.57% ) has found its way onto the shelves of a national retailer in the U.S. The marijuana company announced Tuesday that a deal has been struck with The Vitamin Shoppe to stock Martha Stewart CBD products in its stores and make them available through its web site.

They are only available to consumers in states that permit the sale of CBD products.

Cannabis derivative and plant.

Image source: Getty Images.

All told, The Vitamin Shoppe has over 780 stores throughout the U.S.; Martha Stewart CBD goods are available in more than 580. Consumers can also order online or through the company's app. The retailer is offering a 25% discount on all of the line's products through Dec. 30 with the use of a promotional code.

Canopy Growth formally introduced the comestible items in September. Seven hemp extract products, including oil drops and gummies in various flavors, are currently listed on The Vitamin Shoppe's website.

Canopy Growth is particularly happy with the timing of the deal. "We are pleased to partner with The Vitamin Shoppe to make Martha Stewart CBD more accessible to consumers across the U.S. at the height of this year's holiday shopping season," CEO David Klein said.

Martha Stewart modeling her namesake line of CBD products and ingredients.

Image source: Canopy Growth.

Canopy Growth has not yet provided any estimates as to how this new deal might impact its business, nor has it provided any of the financial particulars of the deal. It did say that this is the first nationwide retail distribution arrangement it's made for Martha Stewart CBD.

That seemed to be good enough for Canopy Growth investors, who bid the stock up by nearly 1.6% on Tuesday, against the 0.3% rise in the S&P 500.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis – even one of our own – helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Canopy Growth Stock Quote
Canopy Growth
$9.99 (-3.57%) $0.37

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
S&P 500 Returns

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 12/04/2021.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Our Most Popular Articles

Premium Investing Services

Invest better with the Motley Fool. Get stock recommendations, portfolio guidance, and more from the Motley Fool's premium services.