CGC - Canopy Growth Corporation

NYSE - Nasdaq Real Time Price. Currency in USD
23.23
-1.33 (-5.43%)
As of 1:20PM EST. Market open.
Stock chart is not supported by your current browser
Previous Close24.56
Open24.76
Bid23.40 x 1400
Ask23.44 x 1200
Day's Range23.11 - 24.95
52 Week Range13.81 - 52.74
Volume4,857,317
Avg. Volume8,889,559
Market Cap8.075B
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
  • What's in Store for Pot Stocks This Year?
    Zacks

    What's in Store for Pot Stocks This Year?

    Increasing tolerance, financial protection, credit availability and legal votes have shaped America's hemp industry lately.

  • Canopy Growth Corporation (CGC) Outpaces Stock Market Gains: What You Should Know
    Zacks

    Canopy Growth Corporation (CGC) Outpaces Stock Market Gains: What You Should Know

    Canopy Growth Corporation (CGC) closed at $24.56 in the latest trading session, marking a +1.82% move from the prior day.

  • When Will Canopy Growth Corporation (TSE:WEED) Breakeven?
    Simply Wall St.

    When Will Canopy Growth Corporation (TSE:WEED) Breakeven?

    Canopy Growth Corporation's (TSE:WEED): Canopy Growth Corporation, together with its subsidiaries, engages in engages...

  • Tweed Collective™ Accepting Project Applications to Support Communities Across Canada
    CNW Group

    Tweed Collective™ Accepting Project Applications to Support Communities Across Canada

    SMITHS FALLS, ON , Jan. 23, 2020 /CNW/ - Tweed CollectiveTM is pleased to announce that it has extended its application deadline and will be accepting submissions until February 20, 2020 . Tweed Collective is a social purpose initiative that funds community impact projects that are changing where and how Canadians live in meaningful ways. All applicants will receive a confirmation email once the Tweed Collective has received the application.

  • 4 Top Stock Trades for Thursday: BA, APHA, JD, SPCE
    InvestorPlace

    4 Top Stock Trades for Thursday: BA, APHA, JD, SPCE

    Coronavirus, shmoronavirus. The market just doesn't care, with the S&P 500 hitting another new all-time high on Wednesday. That said, let's look at a few top stock trades for Thursday. Top Stock Trades for Tomorrow No. 1: Boeing (BA)Source: Chart courtesy of StockCharts.comBoeing (NYSE:BA) shares remain under pressure, as its 737 MAX woes continue to weigh on investor sentiment. Now though, the stock is breaking through critical range support.Over the past 18 months, only the market-wide, fourth-quarter meltdown was enough to take BA stock below $320 range support. For the past year, any negative 737 MAX news was met by buyers near this mark -- until now.InvestorPlace - Stock Market News, Stock Advice & Trading Tips$320 support gave way this week, and now BA is knifing through its 150-week moving average. For many, BA is a no-touch. That is, until it reclaims $320 range support, or gets to a lower price. In the event of more downside, let's see if BA revisits the 2018 Q4 lows between $285 and $290. * 10 Stocks to Buy as the 2020 Presidential Election Approaches Below puts the 200-week moving average near $265 on the table. Top Stock Trades for Tomorrow No. 2: Aphria (APHA)Source: Chart courtesy of StockCharts.comAphria (NYSE:APHA) stock was one of two cannabis plays that I liked coming into 2020, along with Canopy Growth (NYSE:CGC). APHA is moving nicely on the day, up nearly 8%.The stock is hitting its highest level since it closed at $5.50 on Dec. 13, as it breaks out over that same price and continues to gain after pushing through downtrend resistance (purple line).Bulls would love to see APHA power through the 200-day moving average, although it may very well act as resistance on its first test.If Aphria shares pullback, bulls need to look for two areas of support. The first is $5.50, which had been resistance for months, while the second is the 50-day moving average and uptrend support (blue line). Below, and $4.50 is back on the table. Top Stock Trades for Tomorrow No. 3: JD.com (JD)Source: Chart courtesy of StockCharts.comAbove is a multi-year, weekly chart of JD.com (NASDAQ:JD), which shows the impressive bullish volume in the stock over the past few quarters. The stock hammered out a nice bottom near $20 in late 2018, and has been working higher ever since.For most of 2019, JD.com was setting up in a beautiful long-term ascending triangle. That's where rising uptrend support (blue line) squeezes a stock against a static level of resistance. The latter came into play near $32 and the 200-week moving average.Bulls got what they were looking for in the form of a big-time breakout. JD has since reclaimed $36, and continues to rise. If it can maintain this week's gain, investors are looking at a bullish, engulfing candle -- suggesting more upside could be in store. * 7 Energy ETFs to Buy for a Rebound in 2020 Over $42, and the $44 to $46 range is on the table. Historically, JD.com has struggled above this area. Above it, and $50 is possible. Below $39, and perhaps we can get a test of $36. Should the market really unravel, I'd love to scoop JD up at $32. Top Stock Trades for Tomorrow No. 4: Virgin Galactic (SPCE)Source: Chart courtesy of StockCharts.comYou want to talk about volume, though? Just check out the profile on Virgin Galactic (NYSE:SPCE). This stock continues to erupt higher and higher, leaving the stratosphere.We flagged the stock on its breakout over $12, paving the way to some tremendous gains, although I have been more cautious on the name north of $15. Like I said then, there could certainly be more upside, but no way can we be buyers here near $20 when SPCE was at $11 just a few days ago.Maybe we can buy a pullback, if there are signs that bulls still have momentum. Otherwise, we could see this one blow its top off and then fizzle.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Bret Kenwell is long APHA. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Stocks to Buy as the 2020 Presidential Election Approaches * 5 Dividend Stocks With Low Payout Ratios and High Yields * 4 Post-Holiday Retail Stocks Still Worth a Look The post 4 Top Stock Trades for Thursday: BA, APHA, JD, SPCE appeared first on InvestorPlace.

  • 5 Stocks Financial Advisors Are Watching Closely
    Insider Monkey

    5 Stocks Financial Advisors Are Watching Closely

    Between January 13 and January 17, the Dow Jones Industrial Average advanced by 1.53%, while two other benchmark indexes, the S&P 500 and NASDAQ Composite appreciated by 1.26% and 1.24%, respectively. The bullish sentiment was fueled by positive economic data, the signing of the phase one trade agreement between the US and China and a […]

  • MarketWatch

    Canopy Growth names Constellation Brands board member Judy Schmeling as chair of its board

    Canadian cannabis company Canopy Growth Corp. said Wednesday it has named Judy Schmeling as chair of its board. Schmeling has been a board member since Nov. of 2018 and also sits on the board of Constellation Brands Inc. , Canopy's biggest shareholder, as well as on the board of Casey's General Stores. Canopy shares rose 1.1% in premarket trade, but have fallen 46% in the last 12 months, while the ETFMG Alternative Harvest ETF has fallen 41% and the S&P 500 has gained 26%.

  • Judy Schmeling Appointed as Chair of the Canopy Growth Board of Directors and Jim Sabia Appointed to the Board
    CNW Group

    Judy Schmeling Appointed as Chair of the Canopy Growth Board of Directors and Jim Sabia Appointed to the Board

    SMITHS FALLS, ON , Jan. 22, 2020 /CNW/ - Canopy Growth Corporation ("Canopy Growth" or the "Company") (WEED.TO) (CGC) is pleased to announce that Judy Schmeling has been appointed Chair of the Board of Directors and Jim Sabia has been appointed in principle as a member of the Company's Board of Directors. Mr. Sabia will act as an observer to the Board as he and Canopy complete the standard Health Canada processes associated with the appointment. "It is my pleasure to welcome Judy Schmeling as our Chair of the Board of Directors and to welcome Jim to the Board," said David Klein , CEO, Canopy Growth.

  • Canopy Growth (CGC) and Why its Infused Beverage Business Will Struggle
    TipRanks

    Canopy Growth (CGC) and Why its Infused Beverage Business Will Struggle

    Canopy Growth (CGC) has recently enjoyed the rebound in the cannabis market, as sentiment, at least temporarily, has grown more optimistic for the overall sector.In this article we'll look at why the company has a good chance of under performing in the infused beverage market, and what that could mean over the long term for Canopy Growth. We'll also look at the positive impact an increase in same-store sales could have on the company going forward.Product returnsOne of the major concerns I have for Canopy Growth is its inability to accurately identify demand trends, which in the last quarter came back to bite them, as it had product returns of just under $27 million, much of that coming from a lack of demand for its oil products.I don't think that's only from misreading demand, but from misreading the trend itself. It remains to be seen if oils will be the positive catalyst some following the industry, and some in the industry itself, have believed it would be. Canopy Growth was definitely wrong in its assumptions concerning demand for oils.As a result of primarily excessive inventory, the company noted in its latest earnings report that it had identified $15.9 million in product inventory that exceeded demand, or had become obsolete.The key issue here to me is that the company was not only overly optimistic concerning oils in particular, but may have went after the wrong market segment altogether.I draw that conclusion from the fact that its major competitor Aurora Cannabis had stated in the past it wasn't convinced oils were going to be as popular as some companies believed.Infused beveragesAs this relates to infused beverages, I'm concerned the same thing could happen. So far, much of the outlook for infused beverages is related to theory rather than reality.Obviously, with large brewers like Constellation Brands (STZ) and other industries looking at the cannabis sector for growth opportunities, the assumption is they will be able to generate significant sales in the infused beverages segment. The level of demand for infused beverages has yet to be proven.If it doesn't meet expectations in any significant way, Canopy Growth could face some strong headwinds beyond what they already do. Why this would have a major negative impact on the company is because the market is looking for its partnership with Constellation Brands and infused beverages to drive a lot of future growth.Some good newsOne positive thing Canopy Growth has going for it is its same-store sales performance. Last quarter same-store sales from retail outlets it owned were up 17 percent in gross revenue. When including new store openings, that number jumped to 24 percent.This is important because Ontario is going to start opening up approximately 20 stores a quarter, starting in April 2020. If it is able to perform well in those stores, it could go a long way toward consistent growth. The significance of that is it's doing it without the sales of derivatives.If the company is able to figure out derivatives, it could add nicely to the top and bottom lines. So far the company hasn't shown it can project demand in specific segments with accuracy, so it remains to be seen if it can improve in that area in the months and years ahead.Consensus VerdictWall Street is unsure Canopy Growth is worth the gamble, with 7 out of 16 analysts in the last 3 months rating a Buy on the stock, and the majority maintaining a Hold. With a downside potential of nearly 6%, the stock’s consensus target price stands at $22.61. (See Canopy Growth stock analysis on TipRanks)ConclusionSince Canopy Growth received the $4 billion cash infusion from Constellation Brands, it has been touted by many as the cream of the crop in the cannabis sector. For some time I've been one of the few that have went against the grain with that conclusion, for the reasons of its poor track record of identifying legitimate trends in the industry, along with providing the right products to meet what demand is there.From what I've seen so far, the infused beverage market could be a negative catalyst for Canopy Growth. That has in part been confirmed by the recent decision of the company to push back the release of infused beverages. I think that's not necessarily a bad decision, because it needs to get this right.If it were to bottle up a lot of products that once again have to be returned, it would underscore the fact it has difficulty in accurately identifying demand in certain segments, which if isn't able to break out of that weakness, it would crush the share price of the company, even with over $2 billion in cash remaining from Constellation's investment in Canopy.If Canopy can't overcome these things, its bottom line will take further hits, and questions on the sustainability of any meaningful growth trajectory would increase.I, for one, am not convinced it will be able to do so. If it fails with infused beverages, there's not a lot of tailwinds left to drive it. On the other hand, if it does succeed at some level with infused beverages, the combination of the increase in stores in Ontario, and secondarily, in Quebec, could be enough in the way of catalysts to help the company turn around.To find good ideas for cannabis stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.

  • Benzinga

    Seth Rogen And Evan Goldberg's Weed Brand Is Not Only Beautiful, But Also Committed To Social Justice

    It’s been nine months since Canadian actor, writer, producer, and director Seth Rogen co-founded his Cannabis brand Houseplant with his childhood friend and “Pineapple Express” creator and screenwriter, Evan Goldberg. Launched in April of last year, in partnership with corporate giant Canopy Growth Corporation (NYSE: CGC), the Toronto-based business has managed to leave their mark by offering a variety of high quality Sativa, Indica and Hybrid strains, all sold in well-designed, colorful packages. In September, Rogen showed his support of the National Expungement Week (N.E.W.) initiative, by pointing out the injustice behind cannabis related convictions and how criminal records resulting from minor offenses can and should be expunged.

  • ACCESSWIRE

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

    NEW YORK, NY / ACCESSWIRE / January 21, 2020 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of certain shareholders in the following companies. If you suffered a ...

  • ACCESSWIRE

    FINAL DEADLINE ALERT - Canopy Growth Corporation (CGC) - Bronstein, Gewirtz & Grossman, LLC Notifies Shareholders With Losses Exceeding $500K of Class Action and Lead Plaintiff Deadline: January 21, 2020

    NEW YORK, NY / ACCESSWIRE / January 21, 2020 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Canopy Growth Corporation (" Canopy" or ...

  • /R E P E A T -- Media Advisory - Canopy Growth Corporation Gives Back to the Communities it Calls Home/
    CNW Group

    /R E P E A T -- Media Advisory - Canopy Growth Corporation Gives Back to the Communities it Calls Home/

    SMITHS FALLS, ON , Jan. 20, 2020 /CNW/ - Canopy Growth Corporation is committed to making a positive impact in all of the communities it calls home. In the spirit of giving back, the following organization will be receiving a donation from Canopy Growth Corporation. Canopy Growth's Director of Government and Stakeholder Relations, Sean Webster , will be delivering the donation to Newark Neighbours and will be available to discuss the Tweed Collective - a social purpose initiative that invests in community projects across Canada .

  • ACCESSWIRE

    CGC DEADLINE TODAY: HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Alerts Canopy Growth (CGC) Investors of Today’s Deadline to Move for Lead Plaintiff

    SAN FRANCISCO, CA / ACCESSWIRE / January 21, 2020 / Hagens Berman alerts Canopy Growth Corporation (NYSE:CGC) investors of today's deadline to move for lead plaintiff in a securities fraud class action ...

  • ACCESSWIRE

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

    NEW YORK, NY / ACCESSWIRE / January 20, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders ...

  • ACCESSWIRE

    JANUARY 21 FINAL DEADLINE: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Canopy Growth Corporation and Encourages Investors with Losses in Excess of $700,000 to Contact the Firm

    LOS ANGELES, CA / ACCESSWIRE / January 20, 2020 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Canopy Growth Corporation ("Canopy" or "the Company") (NYSE:CGC) for violations of 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's securities between June 21, 2019 and November 13, 2019, inclusive (the ''Class Period''), are encouraged to contact the firm before January 21, 2020.

  • ACCESSWIRE

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

    NEW YORK, NY / ACCESSWIRE / January 20, 2020 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of shareholders of the following companies. If you suffered a loss you ...

  • ACCESSWIRE

    CGC FINAL DEADLINE ALERT: HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages Canopy Growth (CGC) Investors Who Suffered Losses to Contact Its Attorneys, Application Deadline Approaching

    SAN FRANCISCO, CA / ACCESSWIRE / January 20, 2020 / Hagens Berman urges Canopy Growth Corporation (NYSE:CGC) investors who have suffered significant losses to submit their losses now to learn if they qualify ...

  • ACCESSWIRE

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

    NEW YORK, NY / ACCESSWIRE / January 20, 2020 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders ...

  • GlobeNewswire

    FINAL DEADLINE ALERT - Canopy Growth Corporation (CGC) - Bronstein, Gewirtz & Grossman, LLC Notifies Shareholders With Losses Exceeding $1M of Class Action and Lead Plaintiff Deadline: January 20, 2020

    Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed against Canopy Growth Corporation (“Canopy” or the “Company”) (CGC) and certain of its officers, on behalf of shareholders who purchased Canopy securities between September 8, 2017 through November 13, 2019, inclusive (the “Class Period”). This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.

  • Benzinga

    Cannabis Countdown: Top 10 Marijuana Industry News Stories Of The Week

    Cannabis Countdown: Top 10 Marijuana Industry News Stories of the Week Welcome to the  Cannabis Countdown . In this week’s rendition, we’ll recap and countdown the top 10 marijuana industry news stories ...

  • Media Advisory - Canopy Growth Corporation Gives Back to the Communities it Calls Home
    CNW Group

    Media Advisory - Canopy Growth Corporation Gives Back to the Communities it Calls Home

    SMITHS FALLS, ON , Jan. 20, 2020 /CNW/ - Canopy Growth Corporation is committed to making a positive impact in all of the communities it calls home. In the spirit of giving back, the following organization will be receiving a donation from Canopy Growth Corporation. Canopy Growth's Director of Government and Stakeholder Relations, Sean Webster , will be delivering the donation to Newark Neighbours and will be available to discuss the Tweed Collective - a social purpose initiative that invests in community projects across Canada .

  • Is It Finally Time to Buy Aurora Cannabis Stock?
    InvestorPlace

    Is It Finally Time to Buy Aurora Cannabis Stock?

    I recently wrote that Aurora Cannabis (NYSE:ACB) stock isn't headed for $0, but it's still too early to buy. However, in the past couple of weeks, multiple Wall Street analysts have updated their outlook for Aurora. Some analysts are getting more pessimistic on the fundamental outlook for Aurora in the first half of 2020. Others are getting more bullish on the potential long-term value opportunity in Aurora stock.Source: Jarretera / Shutterstock.com Aurora's next earnings report is less than a month away. I think it's still too early to be buying the dip. Besides, there is at least one better option out there for speculative cannabis investors. Management Is ConfidentOne of the biggest Aurora bulls on Wall Street is Cantor Fitzgerald analyst Pablo Zuanic. Zuanic recently met with Aurora management. This week, he said he came away from the meeting even more convinced that Aurora's massive selloff is a buying opportunity.InvestorPlace - Stock Market News, Stock Advice & Trading TipsZuanic says there are three primary drivers of Aurora's underperformance in the past month, none of which are real reasons to sell the stock. First, CCO Cam Battley was let go. Zuanic says the market seems to think Battley resigned, but that's not the case. In fact, he says some more fresh blood would be good news for Aurora."We think ACB would benefit from some pruning and from bringing in an outside CEO renown in the investment community for both sound growth strategy and financial discipline (cost/cash flow)," Zuanic says. * 7 Earnings Reports to Watch Next Week Second, traders have been speculating that Aurora may significantly write-down the value of certain assets after a recent property listing price came in below expectations. Zuanic says Aurora's move to sell non-core assets is part of its cost management plans and should be considered good news for the balance sheet.Finally, Aurora's credit facility requires it to have a total funded debt-to-adjusted shareholders equity ratio at or below 0.25:1 by Sept. 30, 2020. Zuanic says all Aurora needs to get its ducks in order prior to this deadline is to generate around $21 million in earnings before interest, taxes depreciation and amortization (EBITDA) per quarter by the September quarter.Company management and Zuanic himself are confident that goal is still within reach."We would make use of the recent pullback," Zuanic said in conclusion. Cantor has an "overweight" rating and $3.85 price target for Aurora stock. Balance Sheet ConcernsThe same week Zuanic came out with his bullish commentary on Aurora, Bank of America analyst Christopher Carey downgraded the stock to "underperform." Carey also cut his price target to just $1.15.Like many Aurora bears, Carey's primary concern is the company's balance sheet."With [balance sheet] risks to remain a core investment thesis in 2020 in our view, and lingering uncertainty especially on financial covenants, we struggle to envision a scenario where shares have sustainable support," Carey wrote in the downgrade note.Carey credits Aurora with taking several steps to improve its balance sheet, including spending cuts, deferred capex and asset sales. However, he says Aurora is still not in position to meet the terms of its credit facility.Bank of America expects weakness in the Canadian cannabis market to continue throughout the first half of 2020. Without impressive growth numbers to support the bull thesis for cannabis stocks in the near-term, Carey says investors will remain focused on balance sheets. "Unfortunately, ACB has the weakest in our group, while valuation is still near group high," he said.In other words, Aurora has a lot of good things going for it. But at this point of uncertainty and at the current valuation, he simply can't recommend the stock. A Better Option Than Aurora StockLong-time readers know I've been like a broken record when it comes to cannabis stocks. There will likely ultimately be some huge winners in the space in the long term. But there is simply too much risk and uncertainty at this point to be picking one winner. * The 10 Best Value Stocks to Own in 2020 If you insist on picking one stock, I believe Canopy Growth Corp (NYSE:CGC) is the best pick in the space today. It certainly has a lot less risk than Aurora. Canopy has a strong balance sheet and a major financial backer in Constellation Brands (NYSE:STZ). In addition, I think there's a good chance Constellation may step in and buy out Canopy as soon as the financial outlook for cannabis stocks clears up.In the meantime, rather than buying a single stock, cannabis investors should consider owning a basket of at least four or five cannabis stocks to diversify their portfolio. Analysts expect the difficult cannabis market to persist in the first half of 2020. It would be wise for cannabis investors to consider clash flow, debt levels and valuation. In addition to Canopy, investors should consider other top-tier stocks such as Tilray (NASDAQ: TLRY) and Cronos Group (NASDAQ:CRON).As of this writing, Wayne Duggan did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The Top 5 Dow Jones Stocks to Buy for 2020 * 7 Fintech ETFs to Buy Now for Fabulous Financial Exposure * 3 Tech Stocks to Play Ahead of Earnings The post Is It Finally Time to Buy Aurora Cannabis Stock? appeared first on InvestorPlace.

  • ACCESSWIRE

    SHAREHOLDER FINAL DEADLINE TOMORROW: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Canopy Growth Corporation and Encourages Investors with Losses in Excess of $700,000 to Contact the Firm

    LOS ANGELES, CA / ACCESSWIRE / January 20, 2020 / The Schall Law Firm , a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Canopy Growth Corporation ("Canopy" ...