"I think that Canopy could be the next Amazon because they've got the capital and they've got Constellation [Brands] beer (STZ) - Get Report taking care of the liquids and they're doing the medical. I would like to see a big medical investment, but that hasn't happened yet," said Cramer.
Cramer's thoughts on Canopy came after Real Money Stock of the Day, Tilray, reported earnings Tuesday night.
Cramer described the metric that he uses when looking at a cannabis earnings report
he said, "the metric that I watch is twofold."
"One is medical. I'm looking for drug trials," he explained. On the other hand, for recreational, Cramer said that he watches the volume.
"I'm looking for the volume of candy gummies, and drink," he explained. "And, just in general, what are the other ways that are monetizable."
Consumer products, or CPG, is also important in Cramer's eyes.
Will You Have Enough Money to Retire? Want to learn about retirement planning from some of the nation's top experts? Join TheStreet's Robert "Mr. Retirement" Powell live in New York on April 6 for our Retirement Strategies Symposium. For a limited time, tickets are available for $99 for this full-day event. Check out the agenda, learn about the speakers and sign up here.