|Bid||22.26 x 0|
|Ask||22.28 x 0|
|Day's Range||22.19 - 22.81|
|52 Week Range||12.96 - 53.99|
|Beta (5Y Monthly)||2.47|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug. 10, 2020|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||22.96|
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.
Canopy Growth Corporation (CGC) closed the most recent trading day at $16.47, moving +1.92% from the previous trading session.
At a time when cash is king, which cannabis company is better suited to cover its losses without the expense of diluting shareholders?
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.
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?
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.
Industry insiders say the math behind the current policy favours higher-potency drinks while restricting sales of mellower products.
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.
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.
Canopy Growth Corporation (CGC) closed the most recent trading day at $16.59, moving -0.72% from the previous trading session.
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
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 and Acreage Holdings have changed the terms of their deal, citing “volatile financial market conditions.”
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.
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.
Canopy Growth and Acreage agree to amend plan of arrangement to provide potential additional upside for all shareholders Amended arrangement provides for up-front cash payment to Acreage shareholders and ...
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.
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.?
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 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
Canopy Growth sees the addressable legal cannabis market expanding to nearly $70 billion globally by 2023, up from almost $10 billion today.
The pandemic spurred a flurry of innovation as governments locked down brick-and-mortar cannabis stores in an effort to stop the spread of the virus.
18H 36M 56.3364S, 38 o 47' 01.291 SMITHS FALLS, ON , June 16, 2020 /CNW/ -?Deep Space, a full-flavoured cannabis beverage with 10 mg THC in a 222 mL aluminum vessel, has launched. Deep Space is available ...
Industry:?Drug Manufacturers—Specialty & Generic
Full Time Employees:?4,434
Canopy Growth Corporation, together with its subsidiaries, engages in engages in production, distribution, and sale of cannabis for recreational and medical purposes primarily in Canada, the United States, Germany, and the United Kingdom. It operates through two segments, Cannabis, Hemp and Other Consumer Products; and Canopy Rivers. The company's products include dried cannabis flowers, oils and concentrates, softgel capsules, and hemps. It offers its products under the Tweed, Quatreau, Deep Space, Spectrum Therapeutics, First & Free, TWD, This Works, BioSteel, CraftGrow, Tokyo Smoke, DOJA, Van der Pop, and Bean & Bud brands. The company also provides growth capital and a strategic support platform that pursues investment opportunities in the global cannabis sector. Canopy Growth Corporation has a clinical research partnership with NEEKA Health Canada and NHL Alumni Association to examine the efficacy of CBD-based therapies as part of a mitigation of persistent post-concussion symptoms. The company was formerly known as Tweed Marijuana Inc. and changed its name to Canopy Growth Corporation in September 2015. Canopy Growth Corporation is headquartered in Smiths Falls, Canada.