Here's what Jim Cramer's watching for when Canopy Growth reports after the bell Thursday.

What should we expect from Canopy?

Canopy Growth (CGC) - Get Report is scheduled to report its third-quarter results on Thursday, with analysts expecting a loss of 13 cents a share, a year after the company surprised Wall Street by reporting a profit of 1 cent a share when analysts were looking for a loss of 4 cents, reported TheStreet's Tony Owusu.

Related: Cannabis Stocks Are Getting Their Second Wind

Cramer pointed out that Canopy Growth CEO Bruce Linton is looking to make cannabis-infused beverages and may even beat PepsiCo (PEP) - Get Report and Coca-Cola (KO) - Get Report to market with a cannabis-infused soda and other beverages.

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