CGC - Canopy Growth Corporation

NYSE - NYSE Delayed Price. Currency in USD
20.68
-0.45 (-2.13%)
At close: 4:02PM EST

20.65 -0.03 (-0.15%)
After hours: 7:50PM EST

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Previous Close21.13
Open21.46
Bid20.58 x 900
Ask20.64 x 900
Day's Range20.65 - 22.25
52 Week Range13.81 - 52.74
Volume11,777,286
Avg. Volume7,110,667
Market Cap7.2B
Beta (5Y Monthly)3.80
PE Ratio (TTM)N/A
EPS (TTM)-1.79
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • ACCESSWIRE

    HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Canopy Growth (CGC) Investors with $500K+ Losses to Contact Its Attorneys, Fraudulent Period Expanded in Securities Class Action

    SAN FRANCISCO, CA / ACCESSWIRE / December 13, 2019 / Hagens Berman urges Canopy Growth Corporation (NYSE:CGC) investors who have suffered losses in excess of $500,000 to submit their losses now to learn ...

  • Cannabis stocks jump on hopes that Canadian move will curb black-market sales
    MarketWatch

    Cannabis stocks jump on hopes that Canadian move will curb black-market sales

    CBC report says Ontario will open more stores, making it easier for licensed producers to get their product to consumers.

  • ACCESSWIRE

    SHAREHOLDER ALERT: DOMO CGC XYF: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines

    NEW YORK, NY / ACCESSWIRE / December 13, 2019 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. Class Period: shareholders who acquired: (a) Domo common stock pursuant and/or traceable to the Company's initial public offering commenced on or around June 29, 2018; or (b) Domo securities between June 28, 2018 and September 5, 2019, both dates inclusive. Allegations against DOMO include that: (i) Domo was experiencing weakness in its enterprise and international businesses; (ii) Domo's billings growth had dramatically slowed; (iii) all of the foregoing was reasonably likely to have a material negative impact on the Company's financial results; and (iv) as a result, the Offering Documents were materially false and/or misleading and failed to state information required to be stated therein and the Company's public statements were materially false and misleading at all relevant times.

  • 4 Cannabis Stocks Eagerly Awaiting Cannabis 2.0 Wave
    TipRanks

    4 Cannabis Stocks Eagerly Awaiting Cannabis 2.0 Wave

    The Canadian cannabis stocks continue to trade near the yearly lows and the Cannabis 2.0 rollout can’t start soon enough. Unfortunately, Canopy Growth just confirmed the process isn’t going to be smooth or as quickly as the market expected.Earlier this year, Canada regulators established the rules for the rollout of edibles, vapes, beverages and other cannabis products falling into the Cannabis 2.O category. Investors have big hopes for these products to provide cannabis stocks with a boost in revenues from product categories that won’t face the same competition from illegal sources.The government organization allowed companies to submit products for license beginning October 15 with a 60-day review period providing an initial sales date of December 16. As Canopy Growth acknowledged last week, the products can’t be sold into the distribution channels until that day pushing the date before reaching store shelves until sometime in early January 2020.As with the Cannabis 1.0 rollout last October, the Canadian market continues to face failure after failure in reaching aggressive sales targets. The market had originally expected Cannabis 2.0 products to be available starting mid-October and now most store shelves will remain empty until way into Q1.In addition, these products will still lack vast distribution in areas like Ontario already holding back Cannabis 1.0 sales. In addition, provinces like Quebec are limiting 2.0 products while Newfoundland and Labrador aren’t allowing vapes. Investors need to consider that two key provinces are effectively limited at the initial Cannabis 2.0 rollout with Quebec limiting sales and Ontario still lacking stores.We’ve delved into these four Canadian cannabis companies set to lead the market in the Cannabis 2.0 wave after the expected dominance of Canopy Growth:Aurora Cannabis (ACB)Aurora Cannabis is the other major player in the industry expected to have a wide selection of Cannabis 2.0 products ready when the market opens up in mid-December. The company plans to have a wider selection of edibles with chocolates, mints, cookies and gummies hitting the market in addition to a selection of vapes and concentrates.The company arguably has the second-best Cannabis 2.0 lineup and interestingly avoided the beverages market out of the gate. Aurora Cannabis hasn’t had the same problems with recreational cannabis with returns like other leading companies so one might wonder if their placement in the edibles market over beverages isn’t a market signal.With a market cap heading towards $3.0 billion, the stock is probably less reliant on a home run from Cannabis 2.0. Investors have bigger concerns about cash balances and any positive results from selling edibles definitely helps at the margins. The big benefit to Aurora Cannabis is to place the costly ramp up period in the rearview mirror, allowing the company to shift towards streamlining operations in order to generate profits.TipRanks suggests caution has Wall Street fairly divided in its expectations on ACB. The stock currently has a Moderate Buy consensus rating, which breaks down into 5 "buy" ratings vs 4 "hold" and 2 "sell" ratings. (See Aurora's price targets and analyst ratings on TipRanks)Organigram (OGI)Organigram is coming off a rough quarter so any good news would be highly welcomed in this stock. The company isn’t the most aggressive heading into the Cannabis 2.0 launch, but a position in vapes and chocolates could be the best conservative play in an unclear market demand picture while conserving precious cash.The company recently ran into problems with products returned from the Ontario Cannabis Store. Both THC oils and low THC dried flower failed to sell as expected and the lack of retail stores in Ontario didn’t help so a more conservative rollout of 2.0 products might be the smart move.Organigram is taking a more cautionary move into these products with a focus on what was successful in U.S. due to a lack of actual knowledge on the desired products in Canada. The Canadian LP will have vape pens and edibles ready for sales to mirror the products most successful in the U.S.Vape pens available in December will use the PAX Era platform and Edison pens from Organigram. In addition, the company has exclusive license to the Feather products popular in Colorado providing multiple solutions to attack the market.As the market develops in Q1, Organigram will roll out chocolate products from their new $15 million production line. The company plans to pursue co-manufacturing and private labeling to fully utilize this new facility.The company has additional plans for a powered beverage in Q2 to round out a complete Cannabis 2.0 lineup without rushing products out the door in December before the market matures and Ontario opens more stores. With a market value of only $400 million, the stock could see the biggest boost from a successful rollout of products like vapes and edibles.All in all, Wall Street loves this stock, earning a stellar analyst consensus rating, as TipRanks analytics demonstrate OGI as a Strong Buy. Out of 8 analysts tracked in the last 3 months, all 6 are bullish on Organigram stock, while 2 remain sidelined. With a return potential of over 130%, the stock's consensus target price stands at $6.21. (See Organigram stock analysis on TipRanks)Tilray (TLRY)Tilray is the wildcard in the Canadian cannabis sector. The company is relying on wholesale supplies to fuel a Cannabis 2.0 lineup that initially includes CBD beverages, edibles and vape products.Tilray will utilize their High Park Holdings business to lead the rollout of new products including beverages. The company will bring existing U.S. brands of Marley Natural and Goodship to Canada along with other new brands like The Batch, Chowie Wowie and Rmdy. The portfolio will include vapes, cannabis-infused baked goods, gummies and oils.The most focus is naturally on the joint venture with AB InBev (BUD) named Fluent Beverage Company. A major distribution partner in the beverage space is a big feather in the cap of Tilray, yet the company is still lacking a THC product from the start. In addition, the JV is only 49% owned by Tilray so the sales won’t be consolidated on the income statement. Investors expecting a big sales boost might be disappointed with the quarterly results.The company has a market cap of $1.8 billion and quarterly revenues are still making a slow ramp. Analysts only target March quarterly revenues of $65 million, a $10 million boost from the prior quarter. Over time, the hidden value in the stock could come from the Fluent Beverage JV.According to TipRanks, the consensus on Wall Street is that Tilray stock is a “hold” for investors. But TipRanks might as well have said “buy” — because analysts, on average, think the stock, currently at $18.99, could zoom ahead to $26.50 within a year, delivering 39% profits to new investors. (See Tilray's stock-price forecast and analyst ratings)Canopy Growth (CGC)Canopy Growth is the expected leader in the Cannabis 2.0 phase along with all of the U.S. listed Canadian cannabis stocks. Most of the partnerships and direct investments from global firms were for the new product forms such as beverages.The company has held several media and analyst events to prime the investor community on the products hitting the cannabis market on December 16. Canopy Growth has a broad depth of products in the beverages, vapes and chocolates categories, but the company does appear lacking in amount of different product categories with no gummies or other edibles.Considering the Constellation Brands (STZ) investment and the large beverage capacity from the new Smith Falls facility, one shouldn’t be surprised the company has a wide selection here. Canopy Growth plans to offer ten ready-to-drink products and three purely distilled cannabis drinks with multiple flavors and mg levels of both THC and CBD.The problem for the stock is that their beverages and vapes won’t reach stores until early January. The benefit to the current December quarter won’t occur and the new CEO from Constellation Brands doesn’t start until January 14. The company faces a ton of disruption in the next month or so that will impact short-term results.Canopy Growth has a market value of $6.5 billion and a lot of value is based on the Constellation Brands deal and the related breath of beverage offerings. A failed uptake of THC and CBD infused beverages would seriously damage the value of a stock with a business generating quarterly EBITDA losses of C$100 million and needing a new winning strategy to turnaround the prospects of the company.To find good ideas for cannabis stocks trading at fair value or better, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

  • GlobeNewswire

    Glancy Prongay & Murray Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Canopy Growth Corporation

    If you wish to learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Lesley Portnoy, Esquire, at 310-201-9150, Toll-Free at 888-773-9224, or by email to shareholders@glancylaw.com, or visit our website at www.glancylaw.com. On this news, Canopy’s stock price fell $2.66, or over 14%, to close at $15.84 on November 14, 2019, thereby injuring investors.

  • MarketWatch

    Cannabis stocks rally out of the gate on report Ontario to open market for store openings

    Cannabis stocks rallied out of the gate Friday, after a report that the Canadian province of Ontario will open up the market for retailers with plans to issue abut 20 new store approvals starting in April of 2020. The news reported by Canadian network CBC eased concerns about the shortage of stores that has hampered the development of the legal cannabis market in Canada and allowed the black market to continue to thrive. "This is certainly better than the status quo," said MKM analyst Bill Kirk. "In the fight to take share from the illicit market (which has ~80% share), access to stores has been a major issue." he cautioned, however, that access is not the only obstacle the market is facing, highlighting quality and price as other major issues. A survey conducted by MKM found Canadian consumers using the black market due to price convenience and also quality. "Further, Canopy teased an expectation for 40 Ontario stores per month beginning in January," said Kirk. "If the details of 20 store/month beginning in April hold true, Ontario would have 62% fewer stores by year-end 2020 than Canopy had expected (480 vs 180). All else being equal, we would recommend selling into any strength this news may produce." Canopy shares rose 5%, Aurora Cannabis was up 5.2%, Cronos was up 3% and Tilray rose 2.5%. MedMen rose 11%, Aleafia rose 5% and Organigram added 5%.

  • Investopedia

    Can Constellation Brands Turn Around Canopy Growth?

    Alcoholic beverage giant Constellation Brands has a large stake in Canadian cannabis company Canopy Growth, which is producing big losses.

  • CNW Group

    /R E P E A T -- Media Advisory - Canopy Growth Brings Chocolate Back to Smiths Falls: Official Chocolate Factory Ribbon Cutting/

    /R E P E A T -- Media Advisory - Canopy Growth Brings Chocolate Back to Smiths Falls: Official Chocolate Factory Ribbon Cutting/

  • ACCESSWIRE

    The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of CGC, HEXO and XYF

    NEW YORK, NY / ACCESSWIRE / December 12, 2019 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. The CGC lawsuit alleges that Canopy Growth Corporation made materially false and/or misleading statements and/or failed to disclose that: (1) the Company was experiencing weak demand for its softgel and oil products; (2) as a result, the Company would be forced to take a CA$32.7 million restructuring charge due to poor sales, excessive returns, and excess inventory; and (3) as a result, Defendants' statements about its business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.

  • Canopy Growth Introduces First & Free - A Line of Branded Hemp-Derived CBD Products to the U.S. Market
    PR Newswire

    Canopy Growth Introduces First & Free - A Line of Branded Hemp-Derived CBD Products to the U.S. Market

    Canopy Growth Corporation, USA, LLC (TSX: WEED) (NYSE: CGC) ("Canopy Growth" or the "Company") today announced the launch of First & Free – a hemp-derived CBD product line offered in a variety of formats, including softgels, oil drops and creams. The products will be available for purchase on the company's first e-commerce site: www.firstandfree.com.

  • GlobeNewswire

    SHAREHOLDER ALERT: CLAIMSFILER REMINDS BAX, CGC, GRUB, PRU INVESTORS of Lead Plaintiff Deadline in Class Action Lawsuits

    NEW ORLEANS, Dec. 11, 2019 -- ClaimsFiler, a FREE shareholder information service, reminds investors of pending deadlines in the following securities class action lawsuits:.

  • ACCESSWIRE

    The Gross Law Firm Announces Class Actions on Behalf of Shareholders of REZI, PLT and CGC

    NEW YORK, NY / ACCESSWIRE / December 11, 2019 / The securities litigation law firm of The Gross Law Firm issues the following notice on behalf of shareholders in the following publicly traded companies. Shareholders who purchased shares in the following companies during the dates listed are encouraged to contact the firm regarding possible Lead Plaintiff appointment. Appointment as Lead Plaintiff is not required to partake in any recovery.

  • ACCESSWIRE

    HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Canopy Growth (CGC) Investors With $100k+ Losses to Contact Its Attorneys, Securities Fraud Case Filed

    SAN FRANCISCO, CA / ACCESSWIRE / December 11, 2019 / Hagens Berman urges Canopy Growth Corporation (NYSE:CGC) investors who have suffered losses in excess of $100,000 to submit their losses now to learn ...

  • Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Lipocine, Armstrong Flooring, Wanda Sports Group, and Canopy Growth and Encourages Investors to Contact the Firm
    PR Newswire

    Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against Lipocine, Armstrong Flooring, Wanda Sports Group, and Canopy Growth and Encourages Investors to Contact the Firm

    Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, reminds investors that class action lawsuits have been commenced on behalf of stockholders of Lipocine, Inc. (NASDAQ: LPCN), Armstrong Flooring, Inc (NYSE: AFI), Wanda Sports Group Company Limited (NASDAQ: WSG), and Canopy Growth Corporation (NYSE: CGC). Stockholders have until the deadlines below to petition the court to serve as lead plaintiff. Additional information about each case can be found at the link provided.

  • ACCESSWIRE

    The Klein Law Firm Reminds Investors of Class Actions on Behalf of Shareholders of PLT, CGC and XYF

    NEW YORK, NY / ACCESSWIRE / December 11, 2019 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. The PLT lawsuit alleges Plantronics, Inc. made materially false and/or misleading statements and/or failed to disclose during the class period that: (1) the Company had engaged in channel stuffing to artificially boost sales; (2) the Company's internal control over inventory levels was not effective; (3) the Company had not adequately monitored inventory levels ahead of multiple product launches, where the new models would displace demand for aging products; and (4) as a result of the foregoing, Defendants' positive statements about the Company's business, operations, and prospects, were materially misleading and/or lacked a reasonable basis.

  • GlobeNewswire

    Zhang Investor Law Announces Securities Class Action Lawsuit Against Canopy Growth Corporation – CGC

    NEW YORK, Dec. 12, 2019 -- Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Canopy Growth Corporation (NYSE:CGC) between June.

  • ACCESSWIRE

    CLASS ACTION UPDATE for ZEN, UA and CGC: Levi & Korsinsky, LLP Reminds Investors of Class Actions on Behalf of Shareholders

    NEW YORK, NY / ACCESSWIRE / December 11, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. To determine ...

  • CNW Group

    Media Advisory - Canopy Growth Brings Chocolate Back to Smiths Falls: Official Chocolate Factory Ribbon Cutting

    Media Advisory - Canopy Growth Brings Chocolate Back to Smiths Falls: Official Chocolate Factory Ribbon Cutting

  • Cannabis stocks slammed as analysts say Canopy’s new CEO faces big challenges
    MarketWatch

    Cannabis stocks slammed as analysts say Canopy’s new CEO faces big challenges

    Cannabis stocks fell Tuesday, as analysts weighing in on Canopy Growth’s new chief executive took a cautious stance, highlighting the continuing challenges facing the company.

  • GlobeNewswire

    FILING DEADLINE--Kuznicki Law PLLC Announces Class Actions on Behalf of Shareholders of BAX, CGC, GRUB and WSG

    CEDARHURST, N.Y., Dec. 10, 2019 -- The securities litigation law firm of Kuznicki Law PLLC issues this alert to shareholders of the following publicly traded companies..

  • ACCESSWIRE

    SHAREHOLDER ALERT: INFY CGC HEXO: The Law Offices of Vincent Wong Reminds Investors of Important Class Action Deadlines

    NEW YORK, NY / ACCESSWIRE / December 10, 2019 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered ...

  • The MLB allows players to smoke marijuana
    Yahoo Finance Video

    The MLB allows players to smoke marijuana

    The Major League Baseball is letting players smoke marijuana after the sports company removed the substance from its list of drugs and abuse. Yahoo Finance’s Julie Hyman, Dan Roberts, Brian Cheung and Pras Subramanian discuss on On The Move.