CGC Stock Summary and Trading Ideas (Canopy Gwth | NASDAQ:CGC)

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 merged its US 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 November 15, 2024, CGC stock price declined to $3.73 with 3,982,856 million shares trading.

CGC has a beta of 1.22, meaning it tends to be more sensitive to market movements. CGC has a correlation of 0.01 to the broad based SPY ETF.

CGC has a market cap of $316.51 million. This is considered a Small Cap stock.

Last quarter Canopy Gwth reported $46 million in Revenue and -$1.11 earnings per share. This fell short of revenue expectation by $-966,000 and missed earnings estimates by -$.84.

In the last 3 years, CGC traded as high as $159.60 and as low as $2.76.

The top ETF exchange traded funds that CGC belongs to (by Net Assets): MJ, YOLO, CNBS, DFIS, DXIV.

CGC has underperformed the market in the last year with a price return of -29.8% while the SPY ETF gained +32.1%. CGC has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -45.5% and -18.7%, respectively, while the SPY returned +8.0% and +3.0%, respectively.

CGC support price is $3.47 and resistance is $4.01 (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 shares will trade within this expected range on the day.