CGC - Canopy Growth Corporation

NYSE - NYSE Delayed Price. Currency in USD
44.56
-1.46 (-3.17%)
At close: 4:00PM EDT

44.60 +0.04 (0.09%)
After hours: 6:26PM EDT

Stock chart is not supported by your current browser
Previous Close46.02
Open45.35
Bid44.35 x 800
Ask44.56 x 800
Day's Range43.93 - 45.69
52 Week Range24.21 - 59.25
Volume3,662,177
Avg. Volume5,649,864
Market Cap15.448B
Beta (3Y Monthly)3.87
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
Trade prices are not sourced from all markets
  • Canopy Growth, Acreage CEOs reiterate '100%' confidence in merger as shareholder vote approaches
    Yahoo Finance Video2 hours ago

    Canopy Growth, Acreage CEOs reiterate '100%' confidence in merger as shareholder vote approaches

    Canopy Growth CEO Bruce Linton and Acreage Holdings CEO Kevin Murphy discuss the deal between the two companies, as well as the impending vote of shareholders on June 19th to see if the deal will pass. They join Yahoo Finance's Zack Guzman and Kristin Myers to discuss.

  • Legislation would help banks do business with cannabis companies
    Yahoo Finance Video6 hours ago

    Legislation would help banks do business with cannabis companies

    A push for legislation that would allow banks to do business with cannabis companies without the risk of federal enforcement action is gaining momentum. Colorado Congressman Ed Perlmutter joins Yahoo Finance's Julie Hyman, Adam Shapiro and Dan Roberts as well as Bullseye Brief's Adam Shapiro.

  • In ‘the marijuana ghetto’ at Davos, Canopy Growth found its American pot partner
    MarketWatch6 minutes ago

    In ‘the marijuana ghetto’ at Davos, Canopy Growth found its American pot partner

    The landmark deal between Acreage Holdings Inc. and Canopy Growth Corp. has its roots amid bunk beds inside a small, cramped house in Klosters, Switzerland.

  • Barrons.com3 hours ago

    Canopy Growth and Acreage Holdings Defend Their Deal to Create the World’s Largest Marijuana Company

    The marijuana companies say that Canopy’s offer represents a 40% premium for Acreage shareholders, and will create the world’s preeminent cannabis business.

  • Canopy’s proposed U.S. deal is a boon for the U.S. cannabis sector, says this investor
    MarketWatch5 hours ago

    Canopy’s proposed U.S. deal is a boon for the U.S. cannabis sector, says this investor

    Canopy Growth Corp.’s plan to acquire U.S. multi-state operator Acreage Holdings as soon as cannabis is legalized in the U.S. has won the support of a U.S. private-equity firm that specializes in investments in the cannabis sector.

  • Canopy Growth and Acreage Holdings Announce Filing of Management Information Circulars Related to Canopy's Plan to Acquire Acreage
    CNW Group8 hours ago

    Canopy Growth and Acreage Holdings Announce Filing of Management Information Circulars Related to Canopy's Plan to Acquire Acreage

    Canopy Growth's brands, technology and know-how is anticipated to provide Acreage with a significant and immediate advantage in an increasingly competitive U.S. market and fuel Acreage's growth. Acreage shareholders to receive immediate upfront cash consideration, on an as-converted to Subordinate Voting Share basis, of approximately US$2.51 - $2.63 per share upon the initial implementation of the Transaction. On completion of the Transaction, each Acreage share will be converted into 0.5818 of a common share of Canopy Growth, subject to any required adjustments.

  • There’s No Question Canopy Growth Stock Wins in the Long Term
    InvestorPlace9 hours ago

    There’s No Question Canopy Growth Stock Wins in the Long Term

    News that Martha Stuart invested in Canadian cannabis firm Canopy Growth (NYSE:CGC) did not move Canopy Growth stock by much but it does signal something positive. The public is gaining a greater awareness for the prospects of CBD (cannabis and cannabinol) products.Source: Shutterstock Even though Stuart's interest in CBD is for treating stressed animals, which is a small market, any positive mention for CBD will increase the addressable market. And the bigger the market gets, the higher the sales potential for companies like Canopy Growth. So, as an investor, should you follow Martha Stuart's CGC stock trade?In the United States, the CBD market could reach $20 billion by 2024. And at a market capitalization of $10.44 billion (based on Canopy Growth trading at $44.99 recently), markets are far too optimistic in projecting that Canopy would win much of that market.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 6 Stocks to Buy for This Decade's Massive Megatrend Martha Stuart's interest in CBD could lead to companies studying its potential benefits for animals. Still, the CBD market for animals is tiny. In 2017, just $7 million in cannabis-based products for pets were sold in California, Colorado, Oregon and Washington. The CBD market will need more companies dedicated to researching its potency in animals if the market is to expand. Canopy Growth Stock and AcquisitionsCGC stock bottomed at around $40 in April only to rebound when the TSX added it to the S&P/TSX 60 index on Apr. 12. Since then, Canopy said on April 16 that it invested in High Beauty. It bought $2.5 million worth of shares, giving the company an 18.4% in High Beauty. The investment suits Canopy because the beauty industry benefits from the anti-inflammatory aspects from CBD. Cannabinoids could help the health industry treat rosacea, eczema, redness of the skin, and aging.Canopy also said that it completed its acquisition of Spain-based licensed cannabis producer Cañamo y Fibras. Together with Constellation Brands (NYSE:STZ), the pair may continue its global expansion plans. With $4 billion of Constellation's investment, Canopy has plenty of cash available to acquire companies in new geographies like Europe.On April 18, Canopy announced an even bigger deal yet. It would acquire U.S. firm Acreage Holdings for $3.4 billion. Acreage Holdings has 87 dispensaries and 22 cultivation and processing sites across 20 States. This is a win-win deal for both firms as IP sharing and licensing brands will accelerate the growth for Canopy Growth.The Acreage deal is a potential risk for Canopy in the mid-term. If the U.S. Federal government does not legalize cannabis, realizing the production potential from Acreage and all the brand and IP value will get delayed.Canopy may wait for the U.S. market to look favorably to cannabis. It could still develop the product and expand the brand in markets outside the U.S. The only near-term downside is that the U.S. is a massive market whose growth potential is highest. Cronos Earnings and Canopy Growth StockOn May 9, Cronos (NASDAQ:CRON) reported first-quarter revenue that missed expectations. Though revenue grew an impressive CAD $6.5 million (USD $4.8 million), Cronos has a $2.8 billion market cap, based on its recent share price of $16.13.And because CRON stock is still a clear speculative play, weak quarterly reports may take the sine of CGC stock as well. Fundamentally, Altria's (NYSE:MO) CAD $2.4 billion (USD $1.8 billion) investment in Cronos will give the firm years of liquidity. It also gives Cronos the firepower to acquire companies that Canopy may be interested in. The Bottom Line on Canopy Growth StockOn Wall Street, 12 analysts covering Canopy Growth stock are very bullish. The average price target of $60 a share suggests that the stock could rise another 33%. Analysts do not have any fundamental numbers to back the stock's value.Still, Canopy needs to show investors that its acquisitions are leading to new product development that competitors cannot offer, too. The company is likely years away from profitability but with its cash on hand, it will not go away, either.Investors need not follow Martha Stewart on the Canopy trade and need only look at the company's positive prospects set for the long-term.Disclosure: As of this writing, the author did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 6 Stocks to Buy for This Decade's Massive Megatrend * The 7 Best Stocks to Buy From the IPO ETF * 7 Athletic Apparel Stocks With Marathon Pace Compare Brokers The post There's No Question Canopy Growth Stock Wins in the Long Term appeared first on InvestorPlace.

  • Aurora Cannabis Stock Continues to Gather Steam
    InvestorPlace10 hours ago

    Aurora Cannabis Stock Continues to Gather Steam

    Aurora Cannabis (NYSE:ACB) reported its third-quarter results on May 15. They didn't meet analysts' consensus expectations. ACB stock temporarily lost some ground, only to regain those losses by the end of the day's trading. That's a common occurrence when it comes to Aurora Cannabis stock and most other publicly traded pot stocks. The cannabis industry is still the Wild West, featuring maximum volatility and huge risks and rewards.As Canada gets set to legalize marijuana edibles and cannabis-infused drinks in October, Aurora is preparing to meet the demand for those products, whose sales could surpass those of the actual leaf.InvestorPlace - Stock Market News, Stock Advice & Trading Tips * 6 Stocks to Buy for This Decade's Massive Megatrend In recent articles, I've changed my tune on ACB stock, as Aurora has demonstrated that it's building a foundation that's as wide as it is tall. If you own Aurora stock, this ought to be music to your ears. The easy play for Aurora would be to focus on profitability at the expense of diversified revenue streams that, down the road, will bear significant fruit for all its stakeholders. Canada's cannabis companies, including ACB, must be blamed for failing to deliver enough supply for recreational pot smokers in the months following the legalization of recreational marijuana in October 2018. That's why Aurora is doing as much as it can ahead of time to ensure this October isn't a repeat of last year's failure to deliver. Here's how it plans to do that. Holding Back InventoryThere's no question that Aurora is continuing to build its inventory. In Q3, it almost doubled its production versus the same quarter a year earlier, to 15,590 kilograms. It generated C$29.1 million from selling pot for medical purposes and C$29.6 million from sales of marijuana for recreational purposes. Overall it sold 9,160 kilos of cannabis in Q3, 31% more than in Q2.However, since edibles, concentrates, and cannabis-infused drinks will soon be legalized in Canada , it's got to ensure it has enough cannabis inventory to make these products. "What we're trying to do is learn from the challenges of the industry last year and the initial launch of consumer legalization -- we absolutely have to have sufficient inventory to launch these products properly," Aurora CFO Glen Ibbott said on Aurora's earnings conference call. "So if that means taking a little bit of revenue out of Q4 and putting it into inventory, into new products, then that's what we'll do."So, even though Aurora expects to produce 25,000 kilograms of cannabis in Q4, 60% higher than in Q3, its top line may come in below expectations.For now, Aurora will focus on edibles, vape pens, and concentrates, leaving infused drinks until later, when it's had time to understand what consumers are looking for in that area. While there's a risk that ACB will fall behind Canopy Growth (NYSE:CGC) and Hexo (NYSEAmerican:HEXO) on the drinks front, potentially hurting ACB stock in the process, given ACB's failure to make a partnership deal with a large beverage maker such as Constellation Brands (NYSE:STZ) or Molson Coors (NYSE:TAP), it makes sense for Aurora to postpone launching infused drinks. Strategy Is Positive for ACB StockWhen I wrote my past articles, before I began to understand Aurora's game plan, I viewed its CEO, Terry Booth, as a snake-oil salesman who was conning the owners of ACB stock out of their hard-earned dollars. But the more I read about Aurora's business, and more importantly, its focus on delivering for its end users, the more I see the method to its madness and the more I believe that its strategy will prove to be positive for ACB stock. At the moment, the balance between supply and demand in Canada is out of whack. It doesn't help that black markets continue to account for a significant percentage of recreational sales. In the first three months of 2019, 38% of Canadian cannabis users bought marijuana from the black market, down from 51% a year earlier. But as the volume of legal pot sold goes up, and prices go down, companies like Aurora that are building significant production capacity will continue to reap substantial benefits from the Canadian recreational and medical markets. I believe that edibles, cannabis-infused drinks, and concentrates will be a bigger part of the Canadian cannabis landscape than the leaf itself. Older, non-smoking users will be more likely to try products other than the leaf and realize that marijuana is healthier than pounding back alcohol. Aurora's decision to forego revenue in the near-term to prepare to meet this future demand, is creating a stronger foundation at home and will allow it to grow faster internationally. As a result, ACB will become a global player capable of holding significant market share outside of Canada, and ACB stock will perform better over the longer term. The Bottom Line on ACB StockThe owners of marijuana stocks, rightly or wrongly, seem to be focused on production growth rather than revenue or earnings growth. As a result, the faster Aurora gets to 25,000, 50,000, and 100,000 kilograms of cannabis produced in a quarter, the faster ACB stock will rise. While I don't like the fact that ACB lost C$158.4 million in Q3, three times the loss than analysts had expected on average, investors ought to be happy that its overall production continues to gather steam.The future of ACB stock continues to get brighter but I wouldn't own Aurora stock if your eyes aren't wide open to the fact that its volatility remains significant. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 6 Stocks to Buy for This Decade's Massive Megatrend * The 7 Best Stocks to Buy From the IPO ETF * 7 Athletic Apparel Stocks With Marathon Pace Compare Brokers The post Aurora Cannabis Stock Continues to Gather Steam appeared first on InvestorPlace.

  • /R E P E A T -- Meet Your New Neighbour: It's Tweed! Tweed Brings Its Unique Brand of Cannabis and Conversation to Meadow Lake, SK/
    CNW Group10 hours ago

    /R E P E A T -- Meet Your New Neighbour: It's Tweed! Tweed Brings Its Unique Brand of Cannabis and Conversation to Meadow Lake, SK/

    Tweed, Canada's top cannabis producer, is excited to announce the May 23rd grand opening of their Meadow Lake retail location with a celebration of fun, education and most importantly, community love! Legal cannabis is new to many consumers but we've been cutting our teeth as a medical producer for years so we can help suggest strains and educate on the different ways to consume cannabis.

  • 1 Reason Aurora Cannabis Does, and Doesn't, Need a Brand-Name Partner
    Motley Fool10 hours ago

    1 Reason Aurora Cannabis Does, and Doesn't, Need a Brand-Name Partner

    Millennials' favorite marijuana stock does need a partner, but probably not for the reason you've been told.

  • Market Exclusive11 hours ago

    Canopy Growth Makes Debut Into Skin-Care Through Acquisition of This Works

    Having cemented its leadership position in the cannabis industry, Canopy Growth Corp (NYSE:CGC) is now diversifying into the natural skin care space through the acquisition of London-based This Works. The company recently broke the news of the all-cash transaction estimated at CA$73.8 million that gives it 100% ownership in the reputable skincare company. Rich market […]The post Canopy Growth Makes Debut Into Skin-Care Through Acquisition of This Works appeared first on Market Exclusive.

  • The Bull Thesis for CRON Stock Still Lacks Conviction
    InvestorPlace11 hours ago

    The Bull Thesis for CRON Stock Still Lacks Conviction

    In early 2019, all pot stocks were red hot, powered by a rebound in financial markets and improving fundamentals underlying the global-cannabis industry. And the hottest name in this scorching sector was Cronos Group (NASDAQ:CRON). Mostly, investors were excited about the $1.8 billion investment tobacco giant Altria (NYSE:MO) poured into the company. Subsequently, CRON stock went from $10 at the start of 2019 to $25 by February.Source: Shutterstock That huge rally has since faded. That should be no surprise. The writing was on the wall for a sizable drop. Cronos Group stock had simply come too far, too fast. It was way overvalued at $25, even for a hyper-growth pot stock.As such, the stock has come cratering back down to reality over the past few months. Today, shares of Cronos trade hands around $16, more than 35% off their February highs. Naturally, the question now is where does CRON stock go next?InvestorPlace - Stock Market News, Stock Advice & Trading TipsTough to say. Pot stocks are exceptionally volatile. But in the big picture, the bull thesis on Cronos stock still lacks conviction. Even after its 35% correction, the stock remains overvalued relative to its peers, even after you consider Altria's massive investment. To be sure, investors are hoping that the $1.8 billion influx will lead to huge gains in market share over the next several months. * 7 Safe Stocks to Buy for Anxious Investors But almost everyone else in this space also has a ton of cash to use. Therefore, taking that leap of faith for market-share gains seems unnecessarily risky.All in all, then, CRON stock still doesn't look great here. If you're looking for cannabis exposure, I continue to recommend Canopy Growth (NYSE:CGC) for highest-quality exposure, and Aurora (NYSE:ACB) for best value. As for Cronos, I'd stay away. Cronos Stock Remains OvervaluedThe biggest problem with Cronos stock is that the equity remains overvalued relative to peers, and for no good reason.Cronos grew revenues by 120% year-over-year in the early 2019 quarter, and by 15% sequentially. By Canadian cannabis standards, those numbers are pretty bad. Compatriot Tilray (NASDAQ:TLRY) grew early 2019 revenues by 195% YOY and nearly 50% sequentially. Aurora reported 300%-plus YOY revenue growth and 20% sequential growth.Meanwhile on the volume side, Cronos reported just 7% kilograms-sold growth sequentially. Both Aurora and Tilray reported 30%-plus sequential volume growth, and on much bigger bases too.In other words, Cronos reported relatively weak numbers in early 2019 which broadly imply that the company is losing share. Yet, CRON stock continues to trade at a premium against the competition.Cronos is being valued at $4.7 million per kilogram of cannabis sold last quarter. The average valuation across Canopy, Aurora and Tilray is roughly $1.3 million per kilogram of cannabis sold last quarter, with a range of $1 million to $1.5 million.Even after factoring cash and debt into the valuation (Cronos has a ton of cash), Cronos Group stock still trades at a huge premium. Last quarter, it carried a value of $3 million per kilogram of cannabis sold last quarter versus roughly $1.2 million across its peers. A Lot Has to Happen to Justify the ValuationClearly, CRON stock still trades at a huge premium to peers. The current growth trajectory doesn't warrant the premium -- it is actually sub-par. Instead, bulls argue that it's justified because of what the company could do with $1.8 billion from Altria.Indeed, as Canopy has shown us, having billions of dollars on the balance sheet is a game changer in the still-nascent global-cannabis industry.But it may be a little too late for Cronos stock. Canopy already has the early lead, and still has more cash on its balance sheet than Cronos. Meanwhile, Aurora is raising $750 million through a mixed-shelf offering. Finally, Tilray has some major partnerships which could turn into huge investments soon.Long story short, everyone in the cannabis industry has money now. Thus, $1.8 billion from Altria doesn't mean that much unless Cronos proves it can do something with it. From that perspective, a lot has to happen over the next few quarters in order to justify the current premium valuation for CRON stock. The company must gain exposure to the U.S. market, ramp revenue and volume growth, gain Canadian cannabis share on peers, and expand its global footprint.If all those things happen, Cronos stock could rally from here. But until that happens, the medium to long-term bull thesis lacks conviction. Bottom Line on CRON StockCannabis stocks are inherently speculative given the nascent nature of the market. Therefore, you want to be selective about your exposure to the industry. From that perspective, Cronos stock simply doesn't make the cut. It's not the highest quality option in the space; that title belongs to Canopy. Nor is it the best value or cheapest name in the space, with Aurora leading that category.Instead, Cronos is a mixed-quality option with a relatively expensive valuation. Because of this dynamic, the bull thesis on CRON stock fails to provide confidence.As of this writing, Luke Lango was long CGC and ACB. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Safe Stocks to Buy for Anxious Investors * 4 Tech Stocks Looking Vulnerable * Should You Buy, Sell, Or Hold These 7 Hot IPO Stocks? Compare Brokers The post The Bull Thesis for CRON Stock Still Lacks Conviction appeared first on InvestorPlace.

  • Even with a Pharma Arm, Canopy Growth Stock Is About Recreational Use
    InvestorPlace12 hours ago

    Even with a Pharma Arm, Canopy Growth Stock Is About Recreational Use

    Cannabis company Canopy Growth (NYSE:CGC) may have just secured its highest-profile celebrity endorsement yet. Perhaps only topped by the well-publicized relationship between Oprah Winfrey and Weight Watchers (NASDAQ:WW), lifestyle icon Martha Stewart just revealed she invested in an undisclosed stake in Canopy Growth stock because cannabis and cannabinol products are an "alternative to opioids."Source: Shutterstock She's probably not wrong. Insys Therapeutics (NASDAQ:INSY) and Cara Therapeutics (NASDAQ:CARA) are just a couple of several pharmaceutical companies developing ways to use the unique properties of the plant to make effective but not addictive pain-killers.Still, some industry experts are skeptical, and even if the CBD is the basis for an alternative to opioids the world hopes it will be, Canopy Growth role in that sliver of the cannabis movement is modest, at best. Its rise to prominence has been almost entirely driven by recreational use.InvestorPlace - Stock Market News, Stock Advice & Trading TipsTake a closer look at the company though, and you'll find a handful of the (too many) different entities Canopy Growth owns are actually taking aim at the opioid epidemic. * 7 Safe Stocks to Buy for Anxious Investors Pain Relief and Canopy Growth StockThe 77-year Stewart is as in-touch with societal trends as any millennial is, recently explaining of her investment in Canopy Growth stock to Create & Cultivate's founder Jaclyn Johnson, "Well, it's the modern thing, and it's an alternative to opioids of course."It is indeed the modern thing to do. More than 60% of Americans now favor legalizing marijuana, and cannabis has promise as a strong pain reliever.The former model and TV show host went on to undermine her case, however, adding, "I have a lot of animals, and I would love to be able to relieve stress or arthritis or other kinds of problems that my horses, my dogs, my cats experience. We're working on that first, and we're working on additions to human food stuffs, and also on cosmetics."To-date, recreational marijuana has been the crux of the story surrounding Canopy Growth. Of its fiscal Q3 sales of 10,102 kilograms, up 334% year-over-year, the vast majority of it was for recreational usage.The company isn't ignoring its potential role as a supplier of cannabis for true medicinal purposes though. Pharma and Canopy Growth StockAs of the latest look, Canopy owns eight diverse brands, including the relatively new Spectrum Therapeutics, which serves as "the company's healthcare professional and patient-facing identity in medical markets in Canada and around the world." While new, the division has still been undersold.Spectrum Therapeutics is a three-branch unit. Canadian consumers are likely most familiar with Spectrum Cannabis, which supplies medical cannabis using a clever-though-not-complicated color-coding system.It's the other two divisions of Spectrum, however, that quietly look and feel more like pharma companies than a means of simply scoring a high.Canopy Health Innovations, for instance, has secured 38 provisional patents in the United States with more on the way. Overseas, it's involved in eleven different drug-development trials.Cannabinoid Compound Company, also referred to as C3, is Europe's largest cannabinoid-based pharmaceuticals company. Granted, that doesn't necessarily mean a whole lot just yet. The company's dronabinol, however, can be "prescribed by doctors in Germany for any type of chronic pain, and for any condition in palliative care."It's a credible start towards becoming the opioid alternative Martha Stewart believes is possible.Adding to that credibility is the fact that the NFL is exploring the use of cannabis as a means of treating players' pains. That follows a partnership forged between the NHL Alumni Association and Canopy Growth earlier this year, to explore cannabinoids as a means of treating post-concussion neurological diseases… an area the NFL should be exploring as well. Looking Ahead for Canopy Growth StockDon't misread the message. An investment in Canopy Growth stock is an investment in many things, but an investment in opioid alternatives is the least of them. And, it could take years for the prescription-based use of cannabis to catch up with Canopy's recreational business. If that's the impact Stewart is betting on, it could be a long and rocky wait.It's still on the radar though. And, with the opioid market expected to be worth roughly $35 billion by 2025, it's a prospect that would certainly make for a solid second-act from the company. Or, maybe a third act, if the United States legalizes marijuana at the federal level. While certainly game-changing, recreational usage can't drive double-digit and triple-digit growth forever.Besides, the bigger the recreational market gets, the more competitive it becomes, and we've already seen the prices of marijuana fall as it becomes increasingly commoditized.Prescription-based products, preferably co-developed with a major partner, could prove to be a key means for Canopy Growth to differentiate itself and establish a longer-lasting, better-defended growth engine. You've just heard very little about the potential opportunity because it's such a long-term one.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Safe Stocks to Buy for Anxious Investors * 4 Tech Stocks Looking Vulnerable * Should You Buy, Sell, Or Hold These 7 Hot IPO Stocks? Compare Brokers The post Even with a Pharma Arm, Canopy Growth Stock Is About Recreational Use appeared first on InvestorPlace.

  • Canopy Growth stock climbs on news of U.K. skin-care deal; Hexo names COO
    MarketWatch12 hours ago

    Canopy Growth stock climbs on news of U.K. skin-care deal; Hexo names COO

    Cannabis stocks were mostly higher Wednesday, as investors digested the latest deal in the sector, Canopy Growth Corp.’s acquisition of a U.K. skin care company.

  • Barrons.com14 hours ago

    Marijuana Stock Harvest Health Could Almost Double, Analyst Says

    American marijuana companies like Harvest already sell more cannabis than their Canadian counterparts, and are growing their businesses in a U.S. market that will dwarf Canada’s.

  • MarketWatchyesterday

    Canopy Growth investment arm Canopy Rivers appoints new CEO

    Canopy Rivers said late Wednesday it had appointed current president Narbé Alexandrian to the chief executive job. Until Wednesday, Canopy Growth Corp. CEO Bruce Linton served as interim CEO of Rivers. Linton will remain on Rivers' board as chairman. Canopy Rivers is the publicly traded venture capital-type unit of Canopy Growth, the world's largest weed company. Canopy Rivers stock closed up 2.9% during the regular session Wednesday and Canopy Growth stock closed up 2.3%. The S&P 500 index fell 0.3% Wednesday.

  • Meet Your New Neighbour: It's Tweed! Tweed Brings Its Unique Brand of Cannabis and Conversation to Meadow Lake, SK
    CNW Groupyesterday

    Meet Your New Neighbour: It's Tweed! Tweed Brings Its Unique Brand of Cannabis and Conversation to Meadow Lake, SK

    Tweed, Canada's top cannabis producer, is excited to announce the May 23rd grand opening of their Meadow Lake retail location with a celebration of fun, education and most importantly, community love! Legal cannabis is new to many consumers but we've been cutting our teeth as a medical producer for years so we can help suggest strains and educate on the different ways to consume cannabis.

  • 5 Top Stock Trades for Thursday: TGT, URBN, CGC
    InvestorPlaceyesterday

    5 Top Stock Trades for Thursday: TGT, URBN, CGC

    It was another choppy session as many traders may be better off focusing on a new hobby or playing some golf until we get some more encouraging follow-through. This Wednesday would have typically been an exception, given that there was an FOMC statement in the afternoon. Even that couldn't get the tape to move. Despite the overall choppiness in the market, there were plenty of individual movers though. Let's look at a few top stock trades to watch on Thursday. Top Stock Trades for Tomorrow 1: Target Click to EnlargeAs you'll see in a moment, Target (NYSE:TGT) was one of the few positive standouts when it comes to retail earnings. Shares jumped more than 9% on the day and held most of their post-earnings gains as investors have to be cheering the price action.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSo what now? * 7 Stocks to Buy for Over 20% Upside Potential I need to see TGT stock stay above $76.31. If it breaks below, that means it will have lost both the 50-day and 200-day moving averages, as well as its 61.8% retracement for the one-year range. It will have also fallen back below prior downtrend resistance.If TGT can continue higher, look to see if it can fill the gap up to $81-ish. Shares are not yet overbought and the MACD has swung in bulls' favor. Top Stock Trades for Tomorrow 2: Urban Outfitters Click to EnlargeUrban Outfitter (NASDAQ:URBN) is in one nasty downtrend and Wednesday's 9% post-earnings fall isn't helping matters. In April it broke out over resistance, as well as the 10-week and 200-week moving averages. That was only temporary though, as shares are now cascading lower.This isn't one for me. There are other names in retail -- TGT and TJX Companies (NYSE:TJX) are two examples -- that are doing well. I'd rather bet with the wind than against it, and URBN sure has a lot of wind in its face.URBN is a no-touch for me on the long side until it can breakout of this channel and put in a bottom. Top Stock Trades for Tomorrow 3: Advance Auto Parts Click to EnlargeAdvance Auto Parts (NYSE:AAP) is rising on Wednesday after reporting earnings. Its reaction isn't unlike its peer AutoZone (NYSE:AZO), which we covered the other day.Shares did a great job breaking out of that steep downward channel, now up seven sessions in a row. On Wednesday though, resistance was just too much.$170 is a significant level, while the 38.2% retracement is at $169.06. AAP is even having trouble getting above its 50-day moving average. That's okay though, as shares are holding the 200-day moving average, at least for now.I would love to see a mover $170 now, which could ignite a move back up to the $180+ area on the chart. Below today's low and AAP could fill the gap back down to $162. Top Stock Trades for Tomorrow 4: Canopy Growth Click to EnlargeIs Canopy Growth (NYSE:CGC) set to break out? Maybe. CGC stock has been in a tight falling wedge pattern all month, but poked through resistance on Tuesday. On Wednesday, it jumped higher, clearing its 50-day moving average.In this choppy market, I wouldn't be surprised to see the stock pullback now, but if prior resistance acts as support -- say near $44 -- then this may be a buy for another push higher. (Time to load up?)Of course, over Wednesday's high gets us to $48, which was prior resistance earlier this year. Above that, and CGC can test this year's high over $52. A break back below resistance likely gets CGC down to the 200-day. Top Stock Trades for Tomorrow 5: Toll Brothers Click to EnlargeToll Brothers (NYSE:TOL) is down about 4% after the company reported earnings. This one could be in trouble if sellers start to take control.TOL has gone from one channel to the next, and while shares are currently in an uptrend, support is being tested. If it gives way -- as the 10-week moving average has now -- TOL could be heading lower. The first notable level below channel support is $35, which is the confluence of the 50-week and 200-week moving averages. It's where we'll also find the 200-day moving average. You may also notice that the MACD is starting to roll over (blue circle). * 7 Safe Stocks to Buy for Anxious Investors That said, all hope is not lost. For shares to maintain their upward trajectory, Toll Brothers need to see support hold. If it does, a retest of $40 resistance is on the table.Bret Kenwell is the manager and author of Future Blue Chips and is on Twitter @BretKenwell. As of this writing, Kenwell held no positions in any aforementioned securities. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Safe Stocks to Buy for Anxious Investors * 4 Tech Stocks Looking Vulnerable * Should You Buy, Sell, Or Hold These 7 Hot IPO Stocks? Compare Brokers The post 5 Top Stock Trades for Thursday: TGT, URBN, CGC appeared first on InvestorPlace.

  • Canopy Growth Buys Skin Care Company In Latest CBD Deal; Marijuana Stocks Rise
    Investor's Business Dailyyesterday

    Canopy Growth Buys Skin Care Company In Latest CBD Deal; Marijuana Stocks Rise

    Canadian cannabis producer Canopy Growth said it is buying This Works, a London-based skin care company, for around $55 million.

  • Benzingayesterday

    MediPharm Labs Australia Awarded Cannabis Manufacturing License

    MediPharm Labs Corp. (TSXV: LABS) (OTCQX: MEDIF ), which specializes in research-driven cannabis extraction and cannabinoid isolation, announced Wednesday its subsidiary MediPharm Labs Australia Pty. Ltd. ...

  • Why Canopy Growth Is on the Rise Today
    Market Realistyesterday

    Why Canopy Growth Is on the Rise Today

    Why Canopy Growth Is on the Rise TodayCanopy Growth acquires skincare companyOn May 22, Canopy Growth (WEED) (CGC) announced its acquisition of This Works, a natural wellness company based in London, England, for a total of 73.8 million Canadian

  • It’s Time to Load Up on CGC Stock Again
    InvestorPlaceyesterday

    It’s Time to Load Up on CGC Stock Again

    In early April I wrote about going long Canopy Growth (NYSE:CGC) stock. That trade paid off quickly but after peaking at $52.50 per share CGC stock gave it back and has reverted to support. While this sounds disappointing it is where the opportunity lies today.Source: Shutterstock It is time to reload almost exactly the same CGC trade as before. I consider this a blend of tactical trade with the potential to making it a long-term investment. It all depends on the investor time frame. The difference will be how to manage the trade if price goes against it. But in either case the start is the same. But First, Canopy Growth FundamentalsThe whole cannabis stock sector is speculative at best. Companies like Canopy Growth are trying to establish a legitimate business on Wall Street for the first time ever. This is not an easy feat and they are facing hurdles.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe regulatory obstacles are also opportunities which eventually will be incremental upside. There is no doubt that the bullish thesis for pot stocks is strong. * 5 Great Tech ETFs That Aren't the XLK Bottom line, the popularity of pot is what drives the fanatical interest in these stocks.This is not a fad. The interest is too strong to fizzle. Also there is too much action from mega-cap companies who are seeking to join the party if not already there. CGC was ground zero for this when it took $4.5 billion from Constellation Brands (NYSE:STZ). More investments followed like the one into Cronos (NASDAQ:CRON) from Altria (NYSE:MO).Also the cannabis story is not local. This is a global phenomena but the markets here in North America are probably the sexiest to investors. Simply stated, the story is too good to dismiss so soon.CGC stock is not for the faint of heart. They are called momentum stocks because they move fast in both directions. Case in point, yesterday it rose 4% on no specific news. So this makes it difficult to find the perfect trading points. So it is best to learn the levels that matter and use those as entry and exit lines. Trading CGC StockOnce CGC fell back into the $43 zone it slowed its deceleration because that is a support zone. These are not hard lines in the sand but rather rubber bands. I can buy it here and expect a bounce towards the last place it failed.If will face resistance at $49 per share so I should lock profits once it reaches it. But this varies based on individual trading preferences and time frames. If it's a tactical trade then I'd set my stop loss below $41.75 or $39.75 per share. Because if those fail, the bears could try to retest $33 per share. This is not a forecast but a scenario that could unfold.The CGC stock fundamentals are the best of the bunch on paper. This is not to say that they are good. But they did receive the pile of cash from STZ and they are putting it to good use. Their strong balance sheets allows them to execute on plan comfortably. But they still need to grow their delivery capacity.This is what Wall Street believes, and whether reality or not, perception is all that counts this early in the process.Critics of cannabis do make valid arguments. But for every point of contention they offer, there are several other facets of the cannabis that offset that one negative. The applications for cannabis includes not just recreational use, but also medical, CBD, potables, edibles, etc.So according to Wall Street we will smoke it, eat it, drink and rub it on our ailments. So to be a bear on cannabis now is like fighting a multi-headed beast. They can shoot down one aspect of the bullish thesis but there are several more that can still bite the sellers.Nevertheless, it is important to temper the enthusiasm. Canopy Growth fundamentals from the traditional point of view are scary. And it is not alone as the whole sector carries very rich valuation with minimal opposing income. CGC has a market cap of $15 billion and only has a small fraction of it in sales.So yes, they are expensive but the story is not in today's dollar but rather several years out. The legalization trend is just starting. As more states follow the early movers, the North America consumption markets will grow exponentially.Canopy is set to be able to cater to the incremental demand. They are literally forging the trail for the others to follow. Recently we saw them execute an inventive way of acquiring resources without breaking any laws. This is a team that is not afraid to make bold moves and take calculated risks. * 7 Safe Stocks to Buy for Anxious Investors If cannabis stocks are a viable thesis long term, then Canopy Growth is a winner. So far, CGC and ACB are up more than 65% year to date -- four times the performance of the S&P 500.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. You can follow him as @racernic on Twitter and Stocktwits. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Safe Stocks to Buy for Anxious Investors * 4 Tech Stocks Looking Vulnerable * Should You Buy, Sell, Or Hold These 7 Hot IPO Stocks? Compare Brokers The post It's Time to Load Up on CGC Stock Again appeared first on InvestorPlace.

  • Does Canopy Growth Look Attractive in May?
    Market Realistyesterday

    Does Canopy Growth Look Attractive in May?

    Canopy Growth: Analysts' Views in May(Continued from Prior Part)Canopy Growth’s valuationCanopy Growth (WEED) (CGC) is one of the few stocks that has traded at premium valuation multiples compared to its peers like Aurora Cannabis (ACB), Aphria

  • TheStreet.comyesterday

    Canopy Growth Buys London-Based Natural Skincare Company This Works

    shares were up 0.6% in premarket trading after the company announced that it purchased London-based skincare and sleep solutions company This Works for C$73.8 million. The company offers a range of natural skincare and sleep solution products, including a deep sleep pillow spray, morning expert hyaluronic serum and a dry leg oil. This Works CEO Anna Persaud will stay on as head of business operations after the acquisition with Canopy Growth supporting the company's current operations with an accelerated focus on global expansion and product development, including skincare and sleep solution products infused with CBD.