Strong companies know that there’s more to being successful than just turning a profit. Community stewardship is a huge part of what makes companies great, and Canopy Growth has shown its support for the community by giving to local long-term care (LTC) facilities in Jasper, Ontario, and other locations. The cannabis company donated a number of iPads to the facility’s residents so they can stay in touch with their friends and families during the ongoing COVID-19 pandemic.
The Rosebridge Manor TLC facility is just one of 21 such facilities to receive 57 iPads from Canopy Growth this week. The company made the donation through its Spectrum Therapeutics medical division, with the idea of ensuring that the residents of the facilities can remain relatively stress-free during times of reduced contact with their loved ones. While the company acknowledges that it wasn’t able to provide a tablet for each of the residents, it adds that it hopes that access to the iPads will help the seniors remain in touch with their friends and families, and share moments that might have otherwise not been available.
Canopy Growth Chief Advocacy Officer Hilary Black explains, “Like many Canadians who really care about our seniors, we are horrified that 80 per cent of the deaths happened in residential-care homes. When looking at and worrying about what’s going to happen this winter, we just wanted to do something to support our seniors and to support our front-line health-care workers that are working in those residential homes.”
Seemingly as a show of gratitude for the gesture, Canopy has seen its stock increase this week. While not a major jump in price, the stock increased by 2.04% yesterday, following an increase of 9.49% that was registered a week ago. This has led analysts to give the stock a “hold” rating, anticipating greater growth coming in the near-future.