Advertisement
Canada markets close in 2 hours 10 minutes

  • S&P/TSX

    21,840.78
    +132.34 (+0.61%)
     

  • S&P 500

    4,991.89
    -19.23 (-0.38%)
     

  • DOW

    38,049.60
    +274.22 (+0.73%)
     

  • CAD/USD

    0.7278
    +0.0015 (+0.20%)
     

  • CRUDE OIL

    83.53
    +0.80 (+0.97%)
     

  • Bitcoin CAD

    88,633.85
    +1,756.18 (+2.02%)
     

  • CMC Crypto 200

    1,378.59
    +65.97 (+5.03%)
     

  • GOLD FUTURES

    2,412.50
    +14.50 (+0.60%)
     

  • RUSSELL 2000

    1,944.63
    +1.67 (+0.09%)
     

  • 10-Yr Bond

    4.6290
    -0.0180 (-0.39%)
     

  • NASDAQ

    15,398.64
    -202.86 (-1.30%)
     

  • VOLATILITY

    18.64
    +0.64 (+3.56%)
     

  • FTSE

    7,895.85
    +18.80 (+0.24%)
     

  • NIKKEI 225

    37,068.35
    -1,011.35 (-2.66%)
     

  • CAD/EUR

    0.6827
    +0.0006 (+0.09%)
     
MARKETS LIVE BLOG:

S&P 500 SLIPS BELOW 5,000; NASDAQ SINKS ON NETFLIX DRAG

Fed's Goolsbee says 'It makes sense to wait' before cutting rates

Canopy Growth Bucking Today’s Downward Trend in Cannabis Sector

Investing.com

Investing.com - Most Canadian cannabis stocks lost ground again Thursday, with one notable exception: Canopy Growth (TSX:WEED) (NYSE:CGC).

Cannabis stocks have been seesawing throughout the week, which makes Canopy’s small uptick that much more notable.

Canopy rose about 1% in early afternoon trading. The largest marijuana company on the globe was bucking the trend largely due to an endorsement by Stifel analyst Andrew Carter, who initiated coverage of the Ontario-based marijuana company yesterday with a buy rating that came with a target price of C$64 (US$47.77).

Canopy closed Wednesday at C$54.75 (US$40.85).

ADVERTISEMENT

On Monday, the major pot stocks started the week in a downward trend, with Tilray Inc (NASDAQ:TLRY) leading the pace with an almost-9% loss on the day, followed by Aurora Cannabis (TSX:ACB) (NYSE:ACB) with a 6.13% drop, Aphria (TSX:APHA) Aphria (NYSE:APHA) with a 4.5% loss and Cronos Group (TSX:CRON) (NASDAQ:CRON) taking a 4.14% hit.

On Tuesday, the trend reversed, with Aurora gaining 9.5%, Aphria adding 6.8%, Canopy increasing by 5.8%, Cronos jumping 5.57% and Tilray registering a 5.3% uptick on the day.

Yesterday, the same stocks were all in the red, except for Cronos, which ended the day with an 11.6% gain on news that Bank of America Merrill Lynch (NYSE:BAC) had issued a double upgrade on its stock, to a buy from underperform. Today, Cronos is trading down about 3% on the Toronto Stock Exchange and down about 1.6% on the Nasdaq.

Related Articles

FedEx to hire 700 flexible rural and residential drivers

Senate Democrats seek Fed probe into Deutsche Bank and Trump

FCA-Renault merger collapse a blow for Goldman and its alumni network: sources