WEED.TO - Canopy Growth Corporation

Toronto - Toronto Delayed Price. Currency in CAD
35.29
-0.78 (-2.16%)
As of 2:17PM EDT. Market open.
Stock chart is not supported by your current browser
Previous Close36.07
Open36.26
Bid35.28 x 0
Ask35.29 x 0
Day's Range35.24 - 36.76
52 Week Range34.36 - 76.68
Volume944,312
Avg. Volume1,751,335
Market Cap12.276B
Beta (3Y Monthly)5.27
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Marijuana company boards are shockingly more white than Fortune 100 boards
    Yahoo Finance

    Marijuana company boards are shockingly more white than Fortune 100 boards

    Despite mostly equal marijuana usage rates along racial lines, the boards at the top marijuana companies are still shockingly white.

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    Investor's Business Daily

    This Marijuana Stock Moves To Begin Its European Invasion In Germany

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  • Jim Cramer: Cronos and Aphria Passed Canopy Growth
    Market Realist

    Jim Cramer: Cronos and Aphria Passed Canopy Growth

    On Tuesday, Jim Cramer stated that Cronos Group and Aphria passed Canopy Growth. Canopy Growth has lost 15.3% of its stock value since its Q1 earnings.

  • Could President Trump Boost the Cannabis Industry?
    Market Realist

    Could President Trump Boost the Cannabis Industry?

    President Trump might be waiting to use cannabis as a key platform during the upcoming election. Cannabis is a hot sector right now!

  • Pot Entrepreneurs Can Now Get an MBA in Cannabis
    Investopedia

    Pot Entrepreneurs Can Now Get an MBA in Cannabis

    USciences says its program is first-of-its-kind and is offered as a track under the specialized pharma and healthcare MBA.

  • Canopy Growth Unit Granted New Extraction License
    Motley Fool

    Canopy Growth Unit Granted New Extraction License

    The company's KeyLeaf subsidiary gets the green light to produce cannabis extracts at its Canadian facility.

  • Why Ex-CEO Bruce Linton Still Believes in Canopy Growth
    Market Realist

    Why Ex-CEO Bruce Linton Still Believes in Canopy Growth

    Few news items this summer jolted the legalized cannabis industry quite like the termination of former co-CEO Bruce Linton from Canopy Growth Corp.

  • Money flows in marijuana stocks are mostly negative
    MarketWatch

    Money flows in marijuana stocks are mostly negative

    When marijuana stocks were rising, many investors got caught up in the excitement and bought large quantities at high prices. At the same time, another group of investors who paid attention to money flows made significant profits. Just like a doctor who uses X-rays to see what is going on inside the human body, investors can do X-rays of marijuana stocks.

  • Canopy Growth Rises on News of Key Extraction License
    Market Realist

    Canopy Growth Rises on News of Key Extraction License

    Canopy Growth (WEED)(CGC) was trading 3% higher early this morning after it announced the receipt of a key extraction license.

  • These 3 Stocks May Be Near Bottom, and One May Get a 'Lyft'
    TheStreet.com

    These 3 Stocks May Be Near Bottom, and One May Get a 'Lyft'

    It's tough to find when a stock has hit the floor, so let's look at three that fell on earnings and could be poised to rise.

  • What to Expect from Cresco Labs’ Q2 Results
    Market Realist

    What to Expect from Cresco Labs’ Q2 Results

    Cresco Labs is set to declare its second-quarter results after markets close tomorrow. As of yesterday, its stock had risen 29.6% year-to-date.

  • Benzinga

    After Firing, Bruce Linton Buys More Shares Of Canopy Growth

    Linton said during a CNBC interview Tuesday morning the case for investing in Canopy's stock is based on a combination of cash on hand, the culture and a footprint that spans 16 countries and 4,000 employees. Linton is following his own advice and acknowledged he bought more shares of Canopy although he did not quantify his purchase. If I was that important to the company, the company is not that key," Linton said.

  • Benzinga

    Canopy Growth Gains Key Extraction License, Now Runs 3 Extraction Assets

    Canopy Growth Corporation (TSX: WEED)(NYSE:CGC) announced Tuesday it has gained Health Canada’s license for its KeyLeaf Life Sciences facility in Saskatoon, Saskatchewan. The KeyLeaf facility was recently adapted for Canopy Growth’s use, planning to start using it in the fall, extracting up to 5,000 kilograms of hemp or cannabis biomass daily. This is another step in Canopy Growth’s capacity expansion plan, as it aims to be more productive and to cut operational costs by the end of the year, the company reported.

  • Motley Fool

    Let's Face the Facts: Marijuana Stocks Grossly Overpaid for Their Acquisitions

    The possibility of pot stocks writing down the value of their goodwill is growing.

  • MarketWatch

    Canopy Growth wins key extraction license in Saskatoon from Health Canada

    Canopy Growth Corp. said Tuesday that Health Canada has awarded it an extraction license for its KeyLeaf Life Sciences facility in Saskatoon, Saskatchewan. The Canadian company, which is a market leader in the cannabis space thanks to a $4 billion investment from Constellation Brands Inc. , said the facility along with its Smiths Falls, Ontario site and recently licensed BC Tweed extraction site means it has three significant extraction assets to support development of new products. The Saskatchewan facility is expected to be online by fall of 2019 and to have the capacity to extract up to 5,000 kg of hemp or cannabis biomass a day. "This licence will ensure we have the supply of extraction inputs for the medical, CBD, and recreational markets, especially the next generation of value-add, high margin cannabis products here in Canada," Chief Executive Mark Zekulin said in a statement. Canada is gearing up to start offering edibles and other derivatives products in December. Canopy's U.S.-listed shares rose 2.9% premarket, but are down 0.6% in 2019, while the ETFMG Alternative Harvest ETF has gained 4% and the S&P 500 has gained 16.6%.

  • Motley Fool

    Canopy Growth Fired Him -- but Here's Why Bruce Linton Just Bought More Shares Anyway

    Former Canopy Growth co-CEO Bruce Linton says that he's taking advantage of the stock's big sell-off to buy shares. Should investors follow his lead?

  • TheStreet.com

    Canopy Growth Climbs After Receiving Extraction License

    Shares of Canopy Growth were rising after the company announced that it has received a license from Health Canada for its KeyLeaf Life Sciences facility in Saskatchewan. The facility is expected to reduce operational costs for value-add products that will be rolled out in the Canadian recreational and medical markets by the end of the calendar year. "With this milestone, we are executing against the vision of making strategic investments today in order to deliver results over the long term," said CEO Mark Zekulin.

  • Bernie Sanders Tweets on Marijuana Legalization
    Market Realist

    Bernie Sanders Tweets on Marijuana Legalization

    Bernie Sanders tweeted his support for legalizing marijuana nationally and expunging past marijuana convictions. How could this impact cannabis stocks?

  • Canopy Growth Falls to Its Lowest Point in 2019
    Market Realist

    Canopy Growth Falls to Its Lowest Point in 2019

    Today, Canopy Growth (WEED) (CGC) stock saw its lowest point in 2019. The stock opened at $28.3 but fell to $26.5 in the afternoon.

  • Is Canopy Growth Stock A Buy Right Now? Here's What Earnings, Charts Show
    Investor's Business Daily

    Is Canopy Growth Stock A Buy Right Now? Here's What Earnings, Charts Show

    Canopy Growth stock has been praised by many analysts. Here’s what chart analysis shows about buying this marijuana stock right now.

  • How Canopy Growth Plans to Become Profitable
    Market Realist

    How Canopy Growth Plans to Become Profitable

    Last week (ended August 16) was rough for Canopy Growth (WEED)(CGC) stock. It fell about 14% after the company's fiscal 2020 first-quarter earnings report.

  • The $4 billion time bomb ticking away inside the biggest marijuana companies
    MarketWatch

    The $4 billion time bomb ticking away inside the biggest marijuana companies

    Cannabis companies that have made acquisitions at the height of excitement about Canadian legalization last year may be facing some big goodwill writedowns.

  • Canopy Growth: Analysts’ Views after Its Earnings
    Market Realist

    Canopy Growth: Analysts’ Views after Its Earnings

    Canopy Growth didn't impress investors with its earnings for the first quarter of 2020. The stock has fallen 12.4% since the company's earnings.

  • The 5 Scariest Numbers in Canopy Growth's Q1 Report
    Motley Fool

    The 5 Scariest Numbers in Canopy Growth's Q1 Report

    The largest marijuana stock in the world by market cap doesn't look like a leader following its fiscal Q1 results.

  • Pot’s Leaders Lag as Small Names Step Up: Cannabis Weekly
    Bloomberg

    Pot’s Leaders Lag as Small Names Step Up: Cannabis Weekly

    (Bloomberg) -- The leaders have become the laggards.Canopy Growth Corp. and Tilray Inc., trailblazers for the global cannabis industry, last week reported disappointing results and indicated that profitability is a long way off, sending both stocks to double-digit declines.Meanwhile, some smaller names are racking up breakout quarters demonstrating the breadth of the industry.Supreme Cannabis Co. said it expects to report positive adjusted earnings before interest, taxes, depreciation and amortization in the quarter ended June 30 when it releases results on Sept. 17. Analysts were expecting a loss and the shares jumped 16% in response.MediPharm Labs Corp. reported a small net income and revenue of C$31.5 million, which GMP Securities analyst Ryan Macdonell estimated is the fifth highest in the Canadian industry. “This achievement is particularly impressive considering Q2/19 is MediPharm Labs’ third quarter of sales,” Macdonell said in a note.And Pure Sunfarms Corp., which is jointly owned by Village Farms International Inc. and Emerald Health Therapeutics Inc., reported a net income of C$37.2 million, the biggest to date in the industry.Short GusherPerhaps it’s not surprising then that Canopy and Tilray are two of the most-shorted cannabis stocks and the biggest money makers for the counterparties who loan out their shares to short sellers.Financial analytics firm S3 Partners compiled a list of the stocks with the largest daily earnings from short sellers, who pay a fee based on the number of shares shorted, the price of the stock and its borrow fee.Canopy was second on the list, and 10 of the top 50 were cannabis-related stocks. Lending out Canopy’s U.S.-listed shares earns $719,557 a day and its Canadian shares earn an additional C$161,112. Tilray makes its stock lenders $295,116 a day.However, that pales in comparison to first-place Beyond Meat Inc., which earns $1.8 million a day.Black MarketCanopy’s less than stellar results included an unexpected revenue decline that was one of only two reported so far this quarter, according to Cowen & Co. analyst Vivien Azer. (The other one was Organigram Holdings Inc., which attributed the drop to “changes in growing protocols” that affected yields and have since been corrected.)One of the problems was a surplus of oils and softgels at provincial wholesalers, which forced Canopy to record an C$8 million provision for potential product returns.Soft demand for oil products across the industry was “a bit concern,” Cowen’s Azer said.Canopy also appears to have significantly underestimated the demand for products that contain a lot of THC, the cannabis compound that gets you high. To make up lost ground, Canopy shifted its mix of strains and over 70% of its harvest in the quarter was high in THC, Chief Executive Officer Mark Zekulin said in an interview Thursday.The lack of high-THC products may be part of the reason a large percentage of consumers remain in the black market. Statistics Canada released data last week that found 42% of cannabis consumers bought at least some of their pot from illegal sources in the second quarter.Store ScarcityAnother problem is the lack of retail stores in Canada’s two most populous provinces, Ontario and Quebec. While Ontario has roughly one store for every 600,000 people and Quebec has roughly one store for every 500,000 people, Colorado has one for every 10,000 people.Zekulin described the situation as a “chicken-and-egg scenario,” where the provinces were reluctant to open more stores until they knew they could secure more high-THC product, while the companies were waiting for more stores in which to sell their products.More stores are on the way, indicating that shortages are easing. Ontario this week will hold a lottery for 42 new cannabis retail licenses with the first newcomers anticipated to open in October.Upcoming Events This WeekTUESDAY 8/20Ontario holds a lottery for 42 new cannabis retail store licenses, with results to be announced within 24 hoursWEDNESDAY 8/21Cresco Labs Inc. reports earnings post-market with a call scheduled for 5 p.m. New York timeLast Week’s Top StoriesCanopy CEO Sees Revenue Rebound After Weak Quarter Batters StockTilray CEO Says Focus on Profitability is ‘Constraining’Bizarre Pot Stock Moves May Be Linked to Blockbuster ETF TradesCannTrust Plunges After Agency Finds More Breaches of Pot RulesAcreage Aims to Bring Canopy’s Tweed Pot Stores to CaliforniaLender to Fund Container Pot Shops on Canadian Indigenous LandsLuxe Lifestyle Brands Eye Legal Cannabis as New Revenue StrainTo contact the reporter on this story: Kristine Owram in Toronto at kowram@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, ;Jacqueline Thorpe at jthorpe23@bloomberg.net, Divya BaljiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.