WEED.TO - Canopy Growth Corporation

Toronto - Toronto Delayed Price. Currency in CAD
38.26
+0.76 (+2.03%)
At close: 3:56PM EDT
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Previous Close37.50
Open37.64
Bid38.25 x 0
Ask38.25 x 0
Day's Range37.45 - 38.30
52 Week Range30.30 - 76.68
Volume1,179,264
Avg. Volume1,853,662
Market Cap13.309B
Beta (3Y Monthly)5.40
PE Ratio (TTM)N/A
EPS (TTM)-6.22
Earnings DateNov 12, 2019 - Nov 18, 2019
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est55.64
  • Is Canopy Growth (TSE:WEED) Weighed On By Its Debt Load?
    Simply Wall St.

    Is Canopy Growth (TSE:WEED) Weighed On By Its Debt Load?

    The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

  • Canopy Growth Looks for CEO, Linton Gets a New Role
    Market Realist

    Canopy Growth Looks for CEO, Linton Gets a New Role

    Canopy Growth took the market by surprise and let CEO Bruce Linton go. After leaving Canopy Growth, Linton joined three companies in an advisory role.

  • Should You Buy Canopy Growth (TSX:WEED) Stock Right Now?
    The Motley Fool

    Should You Buy Canopy Growth (TSX:WEED) Stock Right Now?

    Canopy Growth Corp (TSX:WEED)(NYSE:CGC) trades at close to 50% of its 12-month high. Is it time to buy this pot stock?

  • CNW Group

    Canopy Growth Announces Election of Board of Directors

    SMITHS FALLS, ON , Sept. 17, 2019 /CNW/ - Canopy Growth Corporation (TSX:WEED) (NYSE: CGC) ("Canopy Growth" or "the Corporation") today announced that all of management's nominees listed ...

  • Cannabis Roundup: IIPR, WEED, ACB, and APHA
    Market Realist

    Cannabis Roundup: IIPR, WEED, ACB, and APHA

    The markets were flat today as the Fed started its two-day meeting. Cannabis ETFs reported mixed performance, and cannabis stocks traded mostly in the red.

  • The Canadian Press

    Most actively traded companies on the TSX

    TORONTO — Some of the most active companies traded Tuesday on the Toronto Stock Exchange:Toronto Stock Exchange (16,834.75, up 83.44 points.)Encana Corp. (TSX:ECA). Energy. Down 48 cents, or 6.53 per cent, to $6.87 on 15.8 million shares.Baytex Energy Corp. (TSX:BTE). Energy. Down four cents, or 1.78 per cent, to $2.21 on 13 million shares.Crescent Point Energy Corp. (TSX:CPG). Energy. Down 22 cents, or 3.51 per cent, to $6.05 on 8.4 million shares.Aurora Cannabis Inc. (TSX:ACB). Health care. Down 27 cents, or 3.72 per cent, to $6.99 on 8.1 million shares.Canadian Natural Resources Ltd. (TSX:CNQ). Energy. Down $1.12, or 2.95 per cent, to $36.85 on 8 million shares.Kinross Gold Corp. (TSX:K). Materials. Up 35 cents, or 5.38 per cent, to $6.86 on 5.8 million shares.Companies in the news:CannTrust Holdings Inc. (TSX:TRST). Down 29 cents or 14.6 per cent to $1.70. CannTrust Holdings Inc. says it received a notice of licence suspension from Health Canada, which has been investigating the cannabis company for allegedly cultivating pot in unlicensed rooms. The Vaughan, Ont.-based company says Health Canada has suspended its authority to sell cannabis or to produce cannabis, other than cultivating and harvesting.Magna International. (TSX:MG). Unchanged at $71.32. Canadian manufacturers say they are keeping a close eye on the strike at General Motors in the U.S. as workers picket for a second day. More than 48,000 unionized workers in the U.S. walked off the job Monday over issues such as wages, health care and job security in the first strike at the U.S. manufacturer in more than a decade. Magna International spokesman Scott Worden said in a statement that the auto parts maker was in a "wait-and-see" mode and declined to outline impacts so far.Canopy Growth Corp. (TSX:WEED). Up 59 cents or 1.6 per cent to $37.50. Canopy Growth Corp. expects to complete its search for a new chief executive officer by the end of the calendar year, its chairman said Tuesday during its first annual meeting without co-founder Bruce Linton at the helm. Chairman John Bell commended Linton on his hefty contributions to the Smiths Falls, Ont.-based cannabis producer. Meanwhile, Linton also on Tuesday, announced his next moves will include advisory roles including at U.S.-based dispensary company Gage Cannabis Co. and Toronto-based Mind Medicine Inc., which is focused on psychedelic-based medicines.Imperial Oil Ltd. (TSX:IMO). Up 26 cents to $36.57. Imperial Oil Ltd. announced Tuesday that chairman and chief executive Rich Kruger will step down after leading the Calgary-based company, which is about 70 per cent owned by Texas-based Exxon Mobil Corp., since 2013. In his role, Kruger complained publicly often about red tape, focusing in recent years on how long it took to win Alberta regulatory approval for the two-phase, 150,000-barrel-per-day Aspen thermal oilsands project, first proposed in 2013. Analysts said they expect little change in direction under Brad Corson, a 36-year Exxon employee who becomes president immediately and becomes chairman and CEO on Jan. 1.Shopify Inc. (TSX:SHOP).Down $11.81 or 2.6 per cent to $435.67. Shopify Inc. says its e-commerce and retail platform has been given new features to help U.S. merchants sell hemp and hemp-derived cannabidiol products where permitted by law. The announcement follows last year's passage of U.S. federal legislation that removed hemp from the Controlled Substances Act, which still covers cannabis products. Hemp may contain CBD, a compound with potential medicinal qualities, but without significant levels of THC — a compound in cannabis that produces a high. Shopify says the new features will help its clients tap into a growing regulated industry in the U.S. by providing tools for marketing, payments and shipping products. The Canadian Press

  • Canopy to hire new CEO by end of year: chairman
    The Canadian Press

    Canopy to hire new CEO by end of year: chairman

    TORONTO — Canopy Growth Corp. expects to complete its search for a new chief executive officer by the end of the calendar year, its chairman said during its first annual meeting without co-founder Bruce Linton at the helm.The "robust" search is "well underway," and the cannabis company is interviewing a number of "well-seasoned executives," chairman John Bell told shareholders in Toronto."We anticipate, and I am confident that, the CEO transition will be completed by the end of the current calendar year," he said. However, Bell also commended Linton on his hefty contributions to the Smiths Falls, Ont.-based cannabis producer."We are here today in large part because of the perseverance, determination and vision of Bruce Linton... When the book is written, and the movie is made, Bruce will definitely have a leading role."Bell's comments come months after Linton was terminated from his role as co-CEO and chairman in July after its biggest shareholder Constellation Brands said it was disappointed in the company's latest earnings.Meanwhile, Linton on Tuesday announced his next moves, which include advisory roles at three companies including U.S.-based dispensary company Gage Cannabis Co. and Toronto-based Mind Medicine Inc., which is focused on psychedelic-based medicines.Canopy's current chief executive Mark Zekulin, previously co-CEO alongside Linton, has said he would stay on until a suitable replacement was found.Zekulin told shareholders at the meeting that it was his choice to leave, and a "natural progression" for new leadership to drive things forward.The list of candidates includes executives who come a variety of industries, including pharmaceuticals, consumer-packaged goods, beverage and alcohol, he said. The list of potential hires also includes candidates from Canada, the U.S. and Latin America, Zekulin told reporters."Generally speaking, there's a list of people who would be amazing at this job and what it it will come down to is... the fit, the ability to walk into the room and know the culture."Some shareholders in attendance voiced concerns about the company's abrupt change in leadership as well as its share price, which has fallen from as high as $65 in early April to $36.91 at close on Monday at the Toronto Stock Exchange.Kay Mehren, who has been a Canopy shareholder for several years since its shares were $1.50 a piece, said she was disappointed about Linton's departure."It's hard to know how the company is doing, because there have been these significant changes recently... I feel uncomfortable any time a founder of a company is removed from it by someone else," she said on the sidelines of the meeting.Zekulin said Tuesday that while he was "sad" to see Linton leave, the CEO is but one piece of the overall puzzle.He added that while Canopy, and the industry overall, is facing several headwinds such as slow store openings and delays in the launch of new cannabis products such as edibles, the long-term opportunity remains."It's still a long game, everyone," Zekulin said. "There will be macro events, there will be internal events that make this ride bumpy. But this is not a quarter-to-quarter race."One bright spot Zekulin pointed to is the legalization of new cannabis products such as edibles, beverages and vapes, which are due to hit legal shelves in mid-December at the earliest.He said Canopy has about 50 next-generation products in the pipeline, but would not go into specifics just yet.Zekulin also addressed vaping concerns south of the border, where U.S. authorities are investigating a string of lung illnesses and some deaths linked to the practice.The initial information indicates that this is an acute problem, rather than a chronic vaping issue, Zekulin said, noting that he does not expect this will change its launch planning or timing.Canopy has developed its own line of fully-integrated vape products "from scratch," he adds."Vapes are a known form factor, but as we look at recent events, they are not a commodity," he said. "The products, the features, the controls, the supply chain, the certifications, these things do matter." Companies in this story: (TSX:WEED)Armina Ligaya, The Canadian PressNote to readers: This is a corrected story. A previous version said that Mind Medicine was based in Australia.

  • Aurora versus Canopy: A Post-Earnings Valuation Update
    Market Realist

    Aurora versus Canopy: A Post-Earnings Valuation Update

    On September 16, Aurora Cannabis was trading at 7.26 Canadian dollars. Its stock has fallen 14.7% since it reported its fiscal 2019 fourth-quarter results.

  • Former Canopy co-CEO Bruce Linton sees big opportunity in psychedelics
    The Canadian Press

    Former Canopy co-CEO Bruce Linton sees big opportunity in psychedelics

    Canopy Growth Corp.'s co-founder and recently ousted co-chief executive has his eye on a new frontier for medicine beyond cannabis: psychedelics.Bruce Linton said he will be a director at Mind Medicine, a Toronto-based company that is seeking to establish safe psychedelic-assisted treatments for mental illness, such as medicinal psilocybin and medicinal MDMA.He sees the opportunity for psychedelics as medicine as similar to the outlook for medicinal cannabis years ago, where regulations were starting to ease in some jurisdictions, opening the door for research."There's probably untapped value, which will only go to the people who are at the beginning and bold," he said in an interview.Linton is not out of the cannabis business, however, and is taking on advisory roles and making some strategic investments.He said he will serve as a special adviser to animal health and CBD company Better Choice and executive chairman at recreational dispensary Gage Cannabis Co.He will also be an activist investor in OG DNA Genetics Inc. and Slang Worldwide Inc., a cannabis consumer packaged goods company whose co-founders previously sold Mettrum Health Corp. to Canopy.Linton's announcement of his next steps comes after he was terminated in July from the top job at the Smiths Falls, Ont-based cannabis company.Canopy holds its annual general meeting of shareholders — its first without Linton at the helm — in Toronto on Tuesday.Although psilocybin and MDMA — better known as the hallucinogen found in so-called magic mushrooms and the party drug ecstasy, respectively — are illegal in Canada and the U.S., researchers are exploring the substances' efficacy in treating conditions such as post-traumatic stress disorder and depression.Last year, researchers across North America, including B.C., began the third and final stage of experimental psychotherapy trials exploring the use of clinical-grade MDMA, ahead of plans to legalize this type of therapy in Canada and the U.S. by 2021.Meanwhile, in May, Denver became the first city to decriminalize magic mushrooms, and Oakland followed suit in June.Earlier this month, the Johns Hopkins University School of Medicine in Baltimore announced it will start the Center of Psychedelic and Consciousness Research, which it says is the first of its kind in the U.S. and the largest in the world.Linton said Mind Medicine has been working on a derivative of psychedelic substances that can provide therapeutic benefits but without causing a high, in the hopes of getting approval from the Food and Drug Administration.He forsees a "similar run" for psychedelics as cannabis, but doesn't propose that they also become social or recreational products."This is clinical research, looking at ingredients that mostly are derived from nature and that haven't been clinically examined. ... Prohibition put up a big barrier, and I want to explore what is behind it now."Meanwhile, Linton still has ties to the Canadian cannabis industry. He remains a major shareholder in Canopy, and recently upped his investment in the cannabis firm as it prepares for the legalization of edibles, beverages and other ingestible products later this year.Although a non-compete clause as part of Linton's abrupt termination bars him from working at another Canadian cannabis company, he is able to take on the advisory roles with Gage and Better Choice.He also said he "expects to select and announce a multi-state operator for a similar role in the near term."Linton said he turned down roles with some of the larger, better known U.S. companies in the cannabis space, as he believes he can make a bigger impact at Mind Medicine, Gage and Better Choice."Some of the big ones I think they're doing a terrific job," he said. "And while they want me, some of them, I think sometimes it's more just to say I'm there rather than to actually know what the hell I do." Companies in this story: (TSX:WEED)Armina Ligaya, The Canadian PressNote to readers: This is a corrected story. A previous version incorrectly stated where Mind Medicine is based.

  • Baystreet

    Stocks in play: Plus Products Inc.

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  • Baystreet

    Psychedelic Drug Treatments Are Just Beginning to Capture Sizable Investor Interest

    Psychedelic substances are gaining traction as a treatment for mental illnesses, creating sizable opportunities ...

  • CNW Group

    /R E P E A T -- Alan Cooke Joins EuroLife as Strategic Advisor Following Success at Canopy Growth/

    Former Regional General Manager of Growing Operations to Assist with European Expansion of CPG-Focused CBD Marketplace TORONTO , Sept. 17, 2019 /CNW/ - EuroLife Brands Inc. ("EuroLife" or the ...

  • Wolverine Partners Corp. to Change Name to Gage Growth Corp. and Appoint Bruce Linton as Executive Chairman
    CNW Group

    Wolverine Partners Corp. to Change Name to Gage Growth Corp. and Appoint Bruce Linton as Executive Chairman

    Gage Cannabis Co.) (the "Company" or "Gage"), one of Michigan's leading craft cannabis and brand platforms, today announced the proposed change of its corporate name to Gage Growth Corp. and addition of Bruce Linton, who will be appointed to the role of Executive Chairman. The changes are expected to be made effective in connection with the closing of Gage's proposed acquisition of Rivers Innovations Inc. ("Innovations").

  • CNW Group

    /R E P E A T -- Santé Cannabis and Spectrum Therapeutics Launch Transformative Medical Cannabis Training Program for Québec Healthcare Professionals/

    MONTREAL and SMITHS FALLS, ON, Sept. 16, 2019 /CNW/ - Québec doctors have a new tool at their disposal for learning about medical cannabis and its viability as a treatment option for their patients. Santé Cannabis, a pioneer in medical cannabis in Québec, has partnered with Spectrum Therapeutics, the medical division of Canopy Growth (TSX:WEED.TO - News) (NYSE:CGC - News) to launch the Prescriber Training Program, designed to aid physicians and patients, announced today at the new Santé Cannabis clinic and research centre in Montréal.

  • CNW Group

    Alan Cooke Joins EuroLife as Strategic Advisor Following Success at Canopy Growth

    Former Regional General Manager of Growing Operations to Assist with European Expansion of CPG-Focused CBD Marketplace TORONTO , Sept. 17, 2019 /CNW/ - EuroLife Brands Inc. ("EuroLife" or the ...

  • Cannabis Roundup: MMEN, ACB, WEED, and CTST
    Market Realist

    Cannabis Roundup: MMEN, ACB, WEED, and CTST

    Today at 2:10 PM ET, the S&P; 500 Index fell 0.3% as investors watched rising oil prices. The cannabis sector also fell today, as its ETFs traded in the red.

  • Aurora Cannabis Focuses on the US CBD Market
    Market Realist

    Aurora Cannabis Focuses on the US CBD Market

    On September 12, Aurora Cannabis (ACB) Chair Michael Singer spoke with CNN Business. He said, “We expect to have a significant footprint in the US in the coming quarters." The company also highlighted its “laser-focused” stance on the hemp-derived CBD (cannabidiol) market in the US on its fourth-quarter earnings call. BDS Analytics and Arcview Market […]

  • Forget Marijuana Stocks, Buy This 1 Stock Instead
    The Motley Fool

    Forget Marijuana Stocks, Buy This 1 Stock Instead

    Maple Leaf Foods Inc. (TSX:MFI) has a 52-week range between $26.05 and $35.82 which presents an excellent investment opportunity.

  • Cronos Group: Target Price and Valuation Update
    Market Realist

    Cronos Group: Target Price and Valuation Update

    The consensus target price for Cronos Group stock fell to 19.88 Canadian dollars from 20.3 Canadian dollars in August, which represents a fall of ~2.07%.

  • Marijuana Stock Investing Is a Marathon, Not a Sprint
    The Motley Fool

    Marijuana Stock Investing Is a Marathon, Not a Sprint

    If you’re investing in Canopy Growth Corp. (TSX:WEED)(NYSE:CGC) or The Flowr Corp. (TSXV:FLWR), it’s a slow burn. The pot stocks are similarly situated with the internet stocks that survived the dot-com bubble. The massive gains would come in due time.

  • CNW Group

    Santé Cannabis and Spectrum Therapeutics Launch Transformative Medical Cannabis Training Program for Québec Healthcare Professionals

    MONTREAL and SMITHS FALLS, ON, Sept. 16, 2019 /CNW/ - Québec doctors have a new tool at their disposal for learning about medical cannabis and its viability as a treatment option for their patients. Santé Cannabis, a pioneer in medical cannabis in Québec, has partnered with Spectrum Therapeutics, the medical division of Canopy Growth (TSX:WEED.TO - News) (NYSE:CGC - News) to launch the Prescriber Training Program, designed to aid physicians and patients, announced today at the new Santé Cannabis clinic and research centre in Montréal.