Canopy Growth Corporation CGC was a big mover last session, as the company saw its shares rise more than 11% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This continues the recent uptrend for the company as the stock is now up 37.4% in the past one-month time frame.
The move came after the company reported that it has received a license for producing and processing hemp from the New York State.
The company has seen its Zacks Consensus Estimate for the current quarter move higher over the past few weeks, suggesting that more solid trading could be ahead for Canopy Growth. So, make sure to keep an eye on this stock going forward to see if this recent jump can turn into more strength down the road.
Canopy Growth currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
Canopy Growth Corporation Price
Canopy Growth Corporation Price | Canopy Growth Corporation Quote
A better-ranked stock in the Medical - Products industry is TG Therapeutics, Inc. TGTX, which currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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