CGC - Canopy Growth Corporation

NYSE - NYSE Delayed Price. Currency in USD
16.45
-0.02 (-0.12%)
At close: 4:00PM EDT

16.50 +0.07 (0.43%)
Before hours: 8:53AM EDT

Stock chart is not supported by your current browser
Previous Close16.47
Open16.55
Bid16.52 x 3100
Ask16.60 x 900
Day's Range16.29 - 16.78
52 Week Range9.00 - 39.98
Volume2,043,687
Avg. Volume6,591,127
Market Cap6.077B
Beta (5Y Monthly)2.47
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Growing with the sun: Cannabis companies look to outdoor cultivation
    The Canadian Press

    Growing with the sun: Cannabis companies look to outdoor cultivation

    TORONTO — A planting machine crawled along the 100-acre Good Farm in Brant County, Ont. on a sunny June day, dropping seeds into the soil in the middle of the COVID-19 pandemic.Behind the wheel was an employee of 48North Cannabis Corp. one wouldn't usually expect: chief executive Charles Vennat."I joked with my team that I was the most expensive farmhand in southwestern Ontario," said Vennat, who professes to keeping a pair of hiking boots in his car trunk for such impromptu jaunts."I've always had the leadership philosophy that you should never ask anybody to do a job in your company that you would not want to do yourself."Vennat, who visits the farm once a week during warm months, was at work on his company's second crop of outdoor cannabis — a fairly new venture for licensed cannabis producers.While many pot producers started out with massive indoor facilities to prepare for the legalization of cannabis in Canada, a handful have turned to outdoor cultivation in order to take advantage of savings from free sunlight and lower electricity and staffing costs.Health Canada began handing out licenses to cultivate cannabis outside in 2019. Interest has since grown steadily.Health Canada told The Canadian Press there were 391 cannabis license holders as of May 31. About 56 are authorized for outdoor cultivation, up from 28 last December.As of March 2020, licence holders had dedicated more than 2.7 million square metres of land to outdoor growing and about 1.9 million square metres for indoor cultivation.Most say savings make outdoor cultivation attractive. A 48North spokesperson said some studies show cannabis grown indoors can cost $2 per gram to cultivate."We cultivated 12,000 kilos last year at 25 cents a gram, which is obviously disruptive," said Vennat."We're quite bullish on the fact that we will do it again this year with even better quality and a lower cost per gram."While Vennat boasts about the price, he admits that the company didn't harvest as much as it hoped and didn't have the right licensed drying spaces."Some went just extremely large scale where other producers started with a more slow and steady approach and I think are scaling up moving into this season," said Robyn Rabinovich, a senior account director at Hill and Knowlton Strategies, who has worked for CannTrust Holdings Inc. and TerrAscend.While many companies were instantly interested in outdoor cultivation, several licensed cannabis producers fought it because they had already invested in large-scale greenhouses, she said.They eventually came around on the idea, which many experts believe could become even more popular because of the cost savings and how easy it is to physically distance on outdoor farms compared to indoor facilities.Those benefits aren't lost on Canopy Growth Corp.It first got into the outside growing game last year with a test crop in Saskatchewan, but is back at it again this year. It hopes to use its crop on edibles, cannabis beverages and vaporizer pens."Your electricity bill is practically nothing when you grow with the sun," said Adam Greenblatt, a senior communications adviser with the Smiths Falls, Ont. company."When you consider indoor growing, you're talking about easily 1,000-watt lamps for every 20 square feet or so and rooms with 100,000 watts of lights, burning 12 to 18 hours a day. It's incomparable."Outdoor cannabis farming also allows for a drop in labour costs. Greenblatt estimates a dozen workers tend to Canopy's Saskatchewan cannabis farm, in comparison to its headquarters, where roughly 1,000 people work.Canopy's indoor growing team is much larger because it involves more labour intensive work such as trimming the flowers and maintaining and operating fertilizer tanks and high-powered lighting.Outside growers can often do their harvesting completely mechanically because the cannabis is being grown to become ingredients for pot products.Even with its benefits, outdoor cannabis farming isn't always a smooth venture, said Andrew Condin, the chief executive at Saskatchewan-based Bold Growth Inc.He's always paying close attention to Mother Nature because hail or high winds can wreak havoc on his cannabis crop.Condin wanted to plant 15 acres of outdoor cannabis this year, but COVID-19 has disrupted that plan.Pandemic-friendly policies have meant Bold's indoor growing operations has to split its workers into two groups and can't spare enough to tend to a full farm doing outdoor cultivation."We basically divided our teams and had no crossover so we didn't have COVID coming through the facility and transmitting through our workforce, but it's been difficult to manage that and to keep that level of protection on our team members," Condin said.When COVID-19 is over or at least subsides, he envisions all 15 acres growing and predicts, "You will see an increase in outdoor cultivation."This report by The Canadian Press was first published July 5, 2020.Companies in this story: (TSX:WEED)Tara Deschamps, The Canadian Press

  • Better Cannabis Stock: Aphria vs. Canopy Growth
    Motley Fool

    Better Cannabis Stock: Aphria vs. Canopy Growth

    Today, I'll look at two of the top pot stocks in the industry -- Aphria (NASDAQ: APHA) and Canopy Growth (NYSE: CGC) -- and assess which of these leading cannabis producers is the better stock to hold in your portfolio. One of the ways Aphria has established itself as one of the safer stocks in the industry is by being able to stay in the black on a relatively consistent basis. In its most recent quarterly results, which the company released on April 14, Aphria posted a net income of 5.7 million Canadian dollars on net revenue of CA$144.4 million.

  • Can Cannabis 2.0 Products Boost Canopy Growth and Organigram in 2020?
    Motley Fool

    Can Cannabis 2.0 Products Boost Canopy Growth and Organigram in 2020?

    Will the potential of cannabis derivatives products push these two cannabis companies towards growth this year?

  • Baystreet

    Stocks Finish Week on Off Note

    Equities in Toronto took a step backward on Friday, as a record surge in COVID-19 cases in the United ...

  • Organigram warns of declining sales and writedowns, cuts 220 jobs
    Yahoo Finance Canada

    Organigram warns of declining sales and writedowns, cuts 220 jobs

    Organigram is warning of declining sales and writedowns as the company delays its financial results, citing COVID-19 and “changing market dynamics.”

  • This Cannabis Stock Trend May Hold Clues to the Industry's Future
    Motley Fool

    This Cannabis Stock Trend May Hold Clues to the Industry's Future

    There's been some significant buyer's remorse of late in the cannabis industry, with would-be acquirers backing out of deals or amending them. It's not uncommon for such deals to change between the time they're proposed and the day they close, but the frequency at which that's happening in the cannabis industry is raising eyebrows among investors. On June 25, Canopy Growth (NYSE: CGC) and Acreage Holdings (OTC: ACRGF) agreed to change the terms of their deal.

  • You Won’t Believe How Much $1,000 Invested in Canopy Growth (TSX:WEED) Stock in 2014 Is Worth Today
    The Motley Fool

    You Won’t Believe How Much $1,000 Invested in Canopy Growth (TSX:WEED) Stock in 2014 Is Worth Today

    While Canopy Growth (TSX:WEED) stock has generated multifold returns in the past, it remains well poised to outperform the broader equity market in the upcoming decade. The post You Won’t Believe How Much $1,000 Invested in Canopy Growth (TSX:WEED) Stock in 2014 Is Worth Today appeared first on The Motley Fool Canada.

  • 2 Marijuana Stocks With the Most Cash in 2020
    Motley Fool

    2 Marijuana Stocks With the Most Cash in 2020

    At a time when cash is king, which cannabis company is better suited to cover its losses without the expense of diluting shareholders?

  • 3 Reasons to Buy Canopy Growth Instead of Aurora Cannabis
    Motley Fool

    3 Reasons to Buy Canopy Growth Instead of Aurora Cannabis

    Year to date, shares of the two largest companies in the cannabis sector, Canopy Growth (NYSE: CGC) and Aurora Cannabis (NYSE: ACB), have not been performing well. Since the beginning of the year, Canopy Growth stock has declined by more than 20%, while Aurora's stock has fallen by as much as 50%. In fiscal year 2020, Canopy Growth generated more than $399 million in net revenue, representing a growth of 76% compared with last year.

  • Acreage Holdings Q1 Results Disappoint: Will the Amended Deal with Canopy Growth Help?
    Motley Fool

    Acreage Holdings Q1 Results Disappoint: Will the Amended Deal with Canopy Growth Help?

    Growing concerns in the U.S. pot market forced Canopy Growth to amend the deal with Acreage as the latter reported disappointing Q1 earnings. Will the new arrangement help Acreage's stock?

  • 2 Pot Stocks That Could Soar in 2020
    Motley Fool

    2 Pot Stocks That Could Soar in 2020

    Many pot stocks are struggling to stay afloat this year, and many will have to shut down due to COVID-19 and the recession that the pandemic has caused. Trulieve Cannabis (OTC: TCNNF) has always been one of the safer pot stocks to invest in, for many reasons. First and foremost is the company's focus on the Florida medical marijuana market.

  • Ottawa’s ‘backwards’ limit on pot drinks is having unintended consequences, producers warn
    Yahoo Finance Canada

    Ottawa’s ‘backwards’ limit on pot drinks is having unintended consequences, producers warn

    Industry insiders say the math behind the current policy favours higher-potency drinks while restricting sales of mellower products.

  • 3 Top Growth Stocks for July
    The Motley Fool

    3 Top Growth Stocks for July

    Wondering how to invest in stocks in July? Focusing on companies that benefit from the re-opening such as Lightspeed POS (TSX:LSPD).The post 3 Top Growth Stocks for July appeared first on The Motley Fool Canada.

  • 2 Pot Stocks to Hold in July
    The Motley Fool

    2 Pot Stocks to Hold in July

    If you are looking for great pot stocks to buy in 2020, take a second look at Aurora Cannabis Inc (TSX:ACB)(NYSE:ACB).The post 2 Pot Stocks to Hold in July appeared first on The Motley Fool Canada.

  • The Canadian Press

    Most actively traded companies on the TSX

    TORONTO — Some of the most active companies traded Thursday on the Toronto Stock Exchange:Toronto Stock Exchange (15,446.14, up 151.76 points.)Bombardier Inc. (TSX:BBD.B). Industrials. Down half a cent, or 1.12 per cent, to 44 cents on 12.1 million shares.Zenabis Global Inc. (TSX:ZENA). Health care. Down half a cent, or 5.88 per cent, to eight cents on 9.7 million shares.Suncor Energy Inc. (TSX:SU). Energy. Up five cents, or 0.22 per cent, to $22.80 on 7.8 million shares.Bonavista Energy Corp. (TSX:BNP). Energy. Up half a cent, or 9.09 per cent, to six cents on 7.9 million shares.Freegold Ventures Ltd. (TSX:FVL). Materials. Up 25 cents, or 28.74 per cent, to $1.12 on 7.7 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Up 19 cents, or 0.81 per cent, to $23.61 on 6.7 million shares.Companies in the news:Air Canada (TSX:AC). Down nine cents to $17.10. Air Canada has quietly changed its refund policy to allow some customers whose flights were cancelled due to the COVID-19 pandemic to recoup their cash — but not passengers whose trips originated in Canada. Customers with flights originating in the European Union, Switzerland and Iceland due to the pandemic are "entitled to receive a refund," states a document recently posted to Air Canada's website.Calfrac Well Services Ltd. (TSX:CFW). Down one cent or 5.6 per cent to 17 cents. Calfrac Well Services Ltd. is reporting a sharply deeper loss on lower revenue as demand for its oil and gas well completion services slumped in the first quarter. The Calgary-based company's net loss jumped to $123 million in the three months ended March 31 from a loss of $36 million in the year-earlier period. Revenue plunged 36 per cent to $305.5 million from $475 million in the same period of 2019.Canopy Growth Corp. (TSX:WEED). Down 15 cents to $22.62. Canopy Growth Corp. is shaking up its Acreage Holdings Inc. acquisition deal because of "broader market and economic factors." Smiths Falls, Ont.-based Canopy signed an agreement in April 2019 to take over the New York company if cannabis production and sale became federally legal in the United States. As part of the changes, which include an up-front payment for Acreage shareholders and certain convertible security holders totalling US$37.5 million or about 30 cents US per share, Acreage shareholders will receive 0.7 of a fixed share and 0.3 of a floating share for each Acreage share they hold.Aphria Inc. (TSX:APHA). Down seven cents or 1.2 per cent to $5.76. Aphria Inc. has reached a deal worth $29.1 million to settle a dispute with Emblem Cannabis Corp. and Aleafia Health Inc. The settlement ends a disagreement the companies had over Aleafia's decision in 2019 to cancel a supply agreement it had with Aphria. Aphria CEO Irwin Simon says the deal allows the companies to avoid the distraction and the potential expense of prolonged litigation. Under the agreement, Emblem, which was acquired by Aleafia in 2019, will receive $15 million in cash, $10 million in Aphria shares and a waiver of claimed receivables.This report by The Canadian Press was first published June 25, 2020.The Canadian Press

  • Cannabis company Canopy Growth signs deal to amend Acreage Holdings deal
    The Canadian Press

    Cannabis company Canopy Growth signs deal to amend Acreage Holdings deal

    Canopy Growth Corp. is shaking up its Acreage Holdings Inc. acquisition deal because of "broader market and economic factors."Smiths Falls, Ont.-based Canopy signed an agreement in April 2019 to takeover the New York company if cannabis production and sale became federally legal in the United States.The deal would help Canopy deepen its international opportunities and involved the company agreeing to pay 0.5818 of its share for each Acreage share.As part of the changes, which include an up-front payment for Acreage shareholders and certain convertible security holders totalling US$37.5 million or about 30 cents US per share, Acreage shareholders will receive 0.7 of a fixed share and 0.3 of a floating share for each Acreage share they hold.Once the cannabis laws change in the U.S., Canopy has agreed to swap 0.3048 of a Canopy share for each fixed Acreage share. Canopy will also have the option to buy the floating Acreage shares for a price equal to their 30-day volume weighted average trading price, subject to a minimum of US$6.41 per share, payable in either cash or shares at Canopy's option.Canopy, which is behind brands including Tweed and Tokyo Smoke, said in a release that the new deal will better align with current economic conditions and "give Acreage shareholders the ability to participate in upside potential.""The United States is going to be a core market for Canopy Growth and this new agreement solidifies our path forward with Acreage," chief executive David Klein said in a statement."I am excited to bring our relationship with Acreage back to centre stage in our U.S. strategy and look forward to a time when the laws in the United States permit us to finalize this transaction as we march toward bringing our exciting beverage products to the US."Acreage is behind the Botanist, Live Resin Project, Natural Wonder and Prime brands and has former prime minister Brian Mulroney on its board.In connection with the new deal, Acreage chief executive Kevin Murphy announced he was resigning as chief executive, but will continue as chairman of the board of directors.Director Bill Van Faasen, former chairman, CEO and president of the Blue Cross Blue Shield of Massachusetts, will serve as Acreage's interim CEO.The shuffle comes after Canopy laid off 85 full-time workers and closed its indoor facility in Yorkton, Sask., to align its production in Canada with market conditions in April.Canopy also ended farming in Springfield, N.Y., cultivation work at a facility in Colombia and operations in South Africa and Lesotho.Prior to those cuts, the company had laid off 500 employees, closed some of its greenhouses and took writedowns of between $700 million and $800 million at the start of the year as it dealt with profitability challenges.This report by The Canadian Press was first published June 25, 2020.Companies in this story: (TSX:WEED)Tara Deschamps, The Canadian Press

  • Canopy Growth to pay less for Acreage under new deal terms
    Yahoo Finance Canada

    Canopy Growth to pay less for Acreage under new deal terms

    Canopy Growth and Acreage Holdings have changed the terms of their deal, citing “volatile financial market conditions.”

  • Canopy Growth (TSX:WEED) Stock: Can It Lead the $70 Billion Cannabis Market?
    The Motley Fool

    Canopy Growth (TSX:WEED) Stock: Can It Lead the $70 Billion Cannabis Market?

    Can Canopy Growth stock rebound in the second half of 2020?The post Canopy Growth (TSX:WEED) Stock: Can It Lead the $70 Billion Cannabis Market? appeared first on The Motley Fool Canada.

  • How Top TSX Cannabis Stocks Are Placed for the Future
    The Motley Fool

    How Top TSX Cannabis Stocks Are Placed for the Future

    TSX cannabis stocks are up almost 50% in the last three months. Will the strength continue going forward? Or is weakness in the cards?The post How Top TSX Cannabis Stocks Are Placed for the Future appeared first on The Motley Fool Canada.

  • Why Canopy Growth (TSX:WEED) Is a Buy After the Recent Pullback
    The Motley Fool

    Why Canopy Growth (TSX:WEED) Is a Buy After the Recent Pullback

    Strong liquidity, high growth potential, and initiatives to improve margins make Canopy Growth an attractive buy. The post Why Canopy Growth (TSX:WEED) Is a Buy After the Recent Pullback appeared first on The Motley Fool Canada.

  • Canopy Growth: 4 things to know from the pot giant’s investor day
    Yahoo Finance Canada

    Canopy Growth: 4 things to know from the pot giant’s investor day

    Beyond the lofty projections, top executives spoke in detail about some of the near-term challenges and opportunities facing the world’s most valuable cannabis company. 

  • Canopy Growth (TSX:WEED) Stock: $0 or $100?
    The Motley Fool

    Canopy Growth (TSX:WEED) Stock: $0 or $100?

    After plummeting for months, Canopy Growth Corp. (TSX:WEED)(NYSE:CGC) looks to be making some gains. So could this cannabis producer be on the way back to the top?The post Canopy Growth (TSX:WEED) Stock: $0 or $100? appeared first on The Motley Fool Canada.

  • Canopy Growth has high hopes for legal cannabis market, even as COVID-19 spreads
    The Canadian Press

    Canopy Growth has high hopes for legal cannabis market, even as COVID-19 spreads

    Canopy Growth Corp. sees the global legal cannabis market growing to be worth $70 billion in the next three years, even as it faces challenges caused by the COVID-19 pandemic.David Klein, the Smiths Falls, Ont.-based company's chief executive, said the market is already valued at $10 billion, but that number will steeply increase as more people try out legal cannabis, customers abandon the illegal market and additional stores open in locations like Ontario."Canada is expected to be about four times the size that it was in 2019, U.S. cannabidiol six times and Germany about 10 times. These are all by the time we get to 2023," Klein said.His remarks came during an investor call Canopy held Monday to discuss the company's outlook and how it has been handling the pandemic.After stores closed down and many employers transitioned their staff to work from home because of COVID-19, Canopy announced in mid-April that it would lay off 85 full-time workers and close its indoor facility in Yorkton, Sask. to align its production in Canada with market conditions.It had already cut 500 employees, closed some of its greenhouses and taken writedowns of between $700 million and $800 million in March as the pandemic started to spread in Canada.Canopy's chief financial officer Mike Lee indicated on Monday that the troubles aren't over."We continue to expect gross margin pressure in the coming quarters, given that 50 per cent of our production costs are fixed," he said."While we work through COVID-19, we are experiencing some lost economies of scale as a result, so we expect our gross margins to be below 30 per cent during this period of pandemic."The company was previously aiming for gross margins of 40 per cent.Lee said he is slowly seeing the industry rebound from the pandemic and Canopy's performance in Canada's recreational market has improved "modestly" in recent weeks as brick-and-mortar stores reopened.However, Canopy won't be taking any chances, according to Lee."We continue to take measures to limit our spending and flex down our staffing and defer or cancel altogether any non-binding commitments where we can," he said.In the coming months, Canopy will take a deep look at the company's offerings and reduce some of their SKUs because roughly 30 per cent of them have accounted for 80 per cent of its Canadian recreational shipments.Canopy's low-performing SKUs are taking away from opportunities to take advantage of demand for more popular products, said chief product officer Rade Nikola Kovacevic."We've missed opportunities to capture $20 million in sales in Q4 alone due to product availability issues," he said.Canopy will also focus on continuing to battle the illegal market by dropping prices and by courting new consumers with edibles and other new product categories — including gummies, chocolates, beverages — introduced to the Canadian market in January.Canopy says the new products accounted for 25 per cent of its total recreational sales in May in Ontario.It found beverages are grabbing a growing slice of the market, which was valued at 28 per cent of combined edible and beverage sales that month.More than 530,000 units of Canopy's Tweed Houndstooth and Soda, Bakerstreet and Ginger, House Plant and Deep Space beverages have been shipped to date and the company is doubling weekly producing runs of the drinks and cannabis-infused chocolate to meet demand.Martha Stewart CBD products will be rolled out in the U.S. in the fall, first for human consumption and then for pets.Canopy's line of gummies will launch by the end of fiscal 2021.This report by The Canadian Press was first published June 22, 2020.Companies in this story: (TSX:WEED)Tara Deschamps, The Canadian Press