17-May-2024
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Canopy Growth, headquartered in Smiths Falls, Canada, cultivates and sells medicinal and recreational cannabis, and hemp, through a portfolio of brands that include Doja, 7ACRES, Tweed, and Deep Space. Its non-THC products include skincare products under Martha Stewart CBD and Storz & Bickel vaporizers. Canopy growth is attempting to merge its U.S. assets into a separately operated holding company, Canopy USA, which will not be consolidated into the Canadian company's financials.
Canopy Gwth trades on the NASDAQ stock market under the symbol CGC.
As of May 17, 2024, CGC stock price declined to $10.85 with 13,478,163 million shares trading.
CGC has a beta of 2.31, meaning it tends to be more sensitive to market movements. CGC has a correlation of 0.03 to the broad based SPY ETF.
CGC has a market cap of $814.31 million. This is considered a Small Cap stock.
Last quarter Canopy Gwth reported $66 million in Revenue and -$2.04 earnings per share. This beat revenue expectation by $11 million and missed earnings estimates by -$1.67.
In the last 3 years, CGC stock traded as high as $269.60 and as low as $2.76.
The top ETF exchange traded funds that CGC belongs to (by Net Assets): ULTY, YOLO.
CGC stock has underperformed the market in the last year with a return of +3.3%, while SPY returned +29.1%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in CGC shares. However, CGC has outperformed the market in the last 3 month and 2 week periods, returning +184.0% and +6.0%, while SPY returned +6.3% and +3.6%, respectively. This indicates CGC has been having a stronger performance recently.
CGC support price is $9.86 and resistance is $12.14 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that CGC stock will trade within this expected range on the day.