Canada's largest medical marijuana producer, Canopy Growth, took a hit after its first earnings report as a public company in the U.S. stoked fears Canadian marijuana is overvalued, but CEO Bruce Linton shrugged off investor concerns on Thursday. He said the company focused more on cannabis as a product, than cannabis as a commodity.
In Canada, "by 2020 or 2021, there will be too much cannabis produced. If I'm still selling primarily an ingredient, I have completely dropped the ball. You want to transform it," Linton said on CNBC's "Squawk Alley."
As Canada marches toward recreational legalization in October, two of the marijuana-based products Linton is most optimistic about marketing to a broader audience are beverages and sleep aids.
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