CGC - Canopy Growth Corporation

NYSE - NYSE Delayed Price. Currency in USD
26.72
-1.39 (-4.94%)
At close: 4:01PM EDT

26.56 -0.16 (-0.60%)
After hours: 7:57PM EDT

Stock chart is not supported by your current browser
Previous Close28.11
Open28.30
Bid26.67 x 800
Ask26.67 x 800
Day's Range26.46 - 28.30
52 Week Range25.26 - 59.25
Volume5,978,948
Avg. Volume4,151,968
Market Cap9.247B
Beta (3Y Monthly)3.38
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 Falls to Its Lowest Point in 2019
    Market Realist

    Canopy Growth Falls to Its Lowest Point in 2019

    Today, Canopy Growth (WEED) (CGC) stock saw its lowest point in 2019. The stock opened at $28.3 but fell to $26.5 in the afternoon.

  • How Canopy Growth Plans to Become Profitable
    Market Realist

    How Canopy Growth Plans to Become Profitable

    Last week (ended August 16) was rough for Canopy Growth (WEED)(CGC) stock. It fell about 14% after the company's fiscal 2020 first-quarter earnings report.

  • Canopy Growth: Analysts’ Views after Its Earnings
    Market Realist

    Canopy Growth: Analysts’ Views after Its Earnings

    Canopy Growth didn't impress investors with its earnings for the first quarter of 2020. The stock has fallen 12.4% since the company's earnings.

  • The 5 Scariest Numbers in Canopy Growth's Q1 Report
    Motley Fool

    The 5 Scariest Numbers in Canopy Growth's Q1 Report

    The largest marijuana stock in the world by market cap doesn't look like a leader following its fiscal Q1 results.

  • Pot’s Leaders Lag as Small Names Step Up: Cannabis Weekly
    Bloomberg

    Pot’s Leaders Lag as Small Names Step Up: Cannabis Weekly

    (Bloomberg) -- The leaders have become the laggards.Canopy Growth Corp. and Tilray Inc., trailblazers for the global cannabis industry, last week reported disappointing results and indicated that profitability is a long way off, sending both stocks to double-digit declines.Meanwhile, some smaller names are racking up breakout quarters demonstrating the breadth of the industry.Supreme Cannabis Co. said it expects to report positive adjusted earnings before interest, taxes, depreciation and amortization in the quarter ended June 30 when it releases results on Sept. 17. Analysts were expecting a loss and the shares jumped 16% in response.MediPharm Labs Corp. reported a small net income and revenue of C$31.5 million, which GMP Securities analyst Ryan Macdonell estimated is the fifth highest in the Canadian industry. “This achievement is particularly impressive considering Q2/19 is MediPharm Labs’ third quarter of sales,” Macdonell said in a note.And Pure Sunfarms Corp., which is jointly owned by Village Farms International Inc. and Emerald Health Therapeutics Inc., reported a net income of C$37.2 million, the biggest to date in the industry.Short GusherPerhaps it’s not surprising then that Canopy and Tilray are two of the most-shorted cannabis stocks and the biggest money makers for the counterparties who loan out their shares to short sellers.Financial analytics firm S3 Partners compiled a list of the stocks with the largest daily earnings from short sellers, who pay a fee based on the number of shares shorted, the price of the stock and its borrow fee.Canopy was second on the list, and 10 of the top 50 were cannabis-related stocks. Lending out Canopy’s U.S.-listed shares earns $719,557 a day and its Canadian shares earn an additional C$161,112. Tilray makes its stock lenders $295,116 a day.However, that pales in comparison to first-place Beyond Meat Inc., which earns $1.8 million a day.Black MarketCanopy’s less than stellar results included an unexpected revenue decline that was one of only two reported so far this quarter, according to Cowen & Co. analyst Vivien Azer. (The other one was Organigram Holdings Inc., which attributed the drop to “changes in growing protocols” that affected yields and have since been corrected.)One of the problems was a surplus of oils and softgels at provincial wholesalers, which forced Canopy to record an C$8 million provision for potential product returns.Soft demand for oil products across the industry was “a bit concern,” Cowen’s Azer said.Canopy also appears to have significantly underestimated the demand for products that contain a lot of THC, the cannabis compound that gets you high. To make up lost ground, Canopy shifted its mix of strains and over 70% of its harvest in the quarter was high in THC, Chief Executive Officer Mark Zekulin said in an interview Thursday.The lack of high-THC products may be part of the reason a large percentage of consumers remain in the black market. Statistics Canada released data last week that found 42% of cannabis consumers bought at least some of their pot from illegal sources in the second quarter.Store ScarcityAnother problem is the lack of retail stores in Canada’s two most populous provinces, Ontario and Quebec. While Ontario has roughly one store for every 600,000 people and Quebec has roughly one store for every 500,000 people, Colorado has one for every 10,000 people.Zekulin described the situation as a “chicken-and-egg scenario,” where the provinces were reluctant to open more stores until they knew they could secure more high-THC product, while the companies were waiting for more stores in which to sell their products.More stores are on the way, indicating that shortages are easing. Ontario this week will hold a lottery for 42 new cannabis retail licenses with the first newcomers anticipated to open in October.Upcoming Events This WeekTUESDAY 8/20Ontario holds a lottery for 42 new cannabis retail store licenses, with results to be announced within 24 hoursWEDNESDAY 8/21Cresco Labs Inc. reports earnings post-market with a call scheduled for 5 p.m. New York timeLast Week’s Top StoriesCanopy CEO Sees Revenue Rebound After Weak Quarter Batters StockTilray CEO Says Focus on Profitability is ‘Constraining’Bizarre Pot Stock Moves May Be Linked to Blockbuster ETF TradesCannTrust Plunges After Agency Finds More Breaches of Pot RulesAcreage Aims to Bring Canopy’s Tweed Pot Stores to CaliforniaLender to Fund Container Pot Shops on Canadian Indigenous LandsLuxe Lifestyle Brands Eye Legal Cannabis as New Revenue StrainTo contact the reporter on this story: Kristine Owram in Toronto at kowram@bloomberg.netTo contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, ;Jacqueline Thorpe at jthorpe23@bloomberg.net, Divya BaljiFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • 10 Marijuana Stocks Wall Street Thinks Will Double
    Motley Fool

    10 Marijuana Stocks Wall Street Thinks Will Double

    With up to 196% upside, should these cannabis stocks be in your portfolio?

  • Weekly Cannabis Stock News: Canopy Growth's Ugly Q1
    Motley Fool

    Weekly Cannabis Stock News: Canopy Growth's Ugly Q1

    The bellwether marijuana stock delivered a very disappointing quarter, and Tilray's latest wasn't much better. Aurora Cannabis, meanwhile, gets to borrow a bit more money.

  • Cannabis Roundup on FIRE, ACB, CGC, and TLRY
    Market Realist

    Cannabis Roundup on FIRE, ACB, CGC, and TLRY

    Cannabis stocks mostly traded in positive territory today. Supreme Cannabis (FIRE) and Aurora Cannabis (ACB) rose about 9.5% and 5.5%, respectively.

  • Charlotte’s Web Holdings Stock Down after Earnings
    Market Realist

    Charlotte’s Web Holdings Stock Down after Earnings

    Charlotte's Web Holdings stock (CWBHF)(CWEB) was down 6.6% yesterday after the company reported lower-than-expected Q2 earning results.

  • Canopy Growth Corp. (CGC) Q1 2020 Earnings Call Transcript
    Motley Fool

    Canopy Growth Corp. (CGC) Q1 2020 Earnings Call Transcript

    CGC earnings call for the period ending June 30, 2019.

  • Canopy Growth Earnings Impacted the Cannabis Sector
    Market Realist

    Canopy Growth Earnings Impacted the Cannabis Sector

    Canopy Growth’s weak results weighed on the entire cannabis sector. Most of the cannabis stocks were in the red on Thursday.

  • Bruce Linton Bought More Canopy Growth Stock
    Market Realist

    Bruce Linton Bought More Canopy Growth Stock

    Canopy Growth's ex-CEO, Bruce Linton, increased his investment in the company. Linton stated that he's still positive about the company's future.

  • Motley Fool

    How Did Canopy Growth Bungle Things So Badly in Q1?

    There are two possible answers. And neither one of them is good.

  • CNW Group

    /R E P E A T -- Media Advisory - Canopy Growth to donate $100,000 to Forest Ontario to help plant millions of trees/

    KEMPTVILLE , ON and SMITHS FALLS, ON , Aug. 15, 2019 /CNW/ - Canopy Growth Corporation is pleased to invite you to attend a cheque presentation at Ferguson Tree Nursery in Kemptville, Ontario . Seeing ...

  • CNW Group

    /R E P E A T -- From Revolution to Evolution: Cannabis Culture 50 years later/

    Now, 50 years later, the crowd that started it all has become one of the most important, influential and educated consumer groups in the legal cannabis market—the 55+ Boomers. "Over the past two months, Tweed has worked with market research firm, Leger, polling the Boomer generation for their opinions on cannabis pre and post-legalization in regards to education, community and the future of the consumer landscape," says Rade Kovacevic, President of Canopy Growth Corporation. "This is a demographic with an incredibly unique viewpoint that has experienced and observed the cannabis industry's transition from prohibition to legalization over the past 50 years.

  • Canopy Rivers' thriving ecosystem demonstrated by purchase and supply agreement between portfolio companies
    CNW Group

    Canopy Rivers' thriving ecosystem demonstrated by purchase and supply agreement between portfolio companies

    JWC AND TERRASCEND SIGN MUTUALLY BENEFICIAL PURCHASE AND SUPPLY CONTRACT TORONTO , Aug.15, 2019 /CNW/ - Canopy Rivers Inc. (" Canopy Rivers " or the " Company" ) (TSXV: RIV) (OTC: CNPOF) ...

  • CNW Group

    From Revolution to Evolution: Cannabis Culture 50 years later

    Now, 50 years later, the crowd that started it all has become one of the most important, influential and educated consumer groups in the legal cannabis market—the 55+ Boomers. "Over the past two months, Tweed has worked with market research firm, Leger, polling the Boomer generation for their opinions on cannabis pre and post-legalization in regards to education, community and the future of the consumer landscape," says Rade Kovacevic, President of Canopy Growth Corporation. "This is a demographic with an incredibly unique viewpoint that has experienced and observed the cannabis industry's transition from prohibition to legalization over the past 50 years.

  • Motley Fool

    Why Tapestry, General Electric, and Canopy Growth Slumped Today

    Bad news for all three companies led to big losses.

  • Aurora Cannabis Is Upsizing Its Secured Credit Facility
    Market Realist

    Aurora Cannabis Is Upsizing Its Secured Credit Facility

    Aurora Cannabis (ACB) announced that it's increasing its secured credit facility to 360 million Canadian dollars from $200 million Canadian dollars.

  • Canopy Growth needs another 3-5 years to turn profit
    Reuters

    Canopy Growth needs another 3-5 years to turn profit

    U.S.-listed shares of Canopy fell as much as 14.5% to $27.30, a day after the company reported disappointing quarterly results. As marijuana companies spend heavily, investors have been worried about their ability to post a profit, even as their top lines surge. Canopy posted a C$1.2 billion loss and lower-than-expected sales for the first quarter, joining rivals Cronos Group and Tilray which recently reported wider quarterly losses.

  • Motley Fool

    Why Canopy Growth Stock Is Sinking Today

    The cannabis producer's stunning revenue decline and massive net loss in Q1 have investors worried.

  • Motley Fool

    Stock Market News: Cisco Looks Weak; Canopy Growth Gets Smoked

    Thursday morning saw continued nervousness among investors.

  • Motley Fool

    Canopy Growth's Horrible, Ugly Q1 Results: 3 Things You'll Want to Know

    The Canadian cannabis producer's latest results were much worse than anyone expected.

  • Motley Fool

    Canopy Growth's Poor Earnings Report: All the Key Metrics You Should Know

    Canopy stock is poised to drop big on Thursday after the cannabis company missed fiscal Q1 revenue and earnings estimates.

  • Why Is Canopy Growth Stock Falling Today?
    Market Realist

    Why Is Canopy Growth Stock Falling Today?

    Canopy Growth admitted that the losses were due to upfront capital investments in Canada and Europe. The investments were made to "generate future value."