HomeMarket NewsSmall CapsCanopy Growth Corporation Stock Update: What Investors Should Know

Canopy Growth Corporation Stock Update: What Investors Should Know

Actionable Trade Ideas

always free

whats going on with canopy growth corporation stock cgc shares up higher

Canopy Growth Corporation (CGC) shares are trading higher Tuesday, though the stock remains down by nearly 8% over the last five days. Let’s dive into what’s been happening:

What’s Causing the Stock Movement?

Canopy Growth shares are up more than 9% today, despite the absence of any immediate news from the company. The recent rise could be an attempt to recover from an 8% drop over the past five days and a staggering 25% decline over the last month.

Expectations for Second-Quarter Financial Results

Investors are eagerly awaiting the release of Canopy Growth Corporation’s second-quarter financial results, scheduled for November 9. Analysts estimate a loss of 15 cents per share and approximately $92.3 million in quarterly revenue.

EU GMP Certification Boost

On October 11, Canopy Growth announced that its cannabis cultivation facility in Kincardine, Ontario, received EU GMP certification. This certification enables the company to continue exporting certified medical cannabis to Europe and other global medical markets, opening up potential growth opportunities.

Related News:Β What’s Going On With Spirit Airlines Stock?

Current Stock Performance

As of now, Canopy Growth shares are up more than 9%, trading at 57 cents per share according to Benzinga Pro.

Image: M. from Pixabay

Missed the First Wave of Cannabis Investments? Don’t Make That Mistake Again.

According to experts, cannabis stocks have hit a floor and are now potentially poised for unprecedented growth.

Join Benzinga PotProfits and gain access to the expertise of our in-house cannabis stock expert, Michael Berger. Michael is on a mission to uncover the most promising cannabis stocks for growth, even in a stagnant market. He leaves no stone unturned to bring you the best potential double-digit opportunities!

Just this year, the PotProfits portfolio has seen impressive gains, including:

  • 47.10% with $GTBIF
  • 40.23% with $TCNNF
  • 21.50% with $VFF

Michael is excited to release his next potential winners and share the ticker symbols with you. Don’t miss out on the green rush!


Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.