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Canopy Growth Corporation (WEED.TO)

Toronto - Toronto Delayed Price. Currency in CAD
22.26+0.27 (+1.23%)
As of 11:13AM EDT. Market open.
Stock chart is not supported by your current browser
Previous Close21.99
Open22.49
Bid22.26 x 0
Ask22.28 x 0
Day's Range22.19 - 22.81
52 Week Range12.96 - 53.99
Volume358,381
Avg. Volume2,223,046
Market Cap8.235B
Beta (5Y Monthly)2.47
PE Ratio (TTM)N/A
EPS (TTM)-3.80
Earnings DateAug. 10, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est22.96
  • You Won’t Believe How Much $1,000 Invested in Canopy Growth (TSX:WEED) Stock in 2014 Is Worth Today
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    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.

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

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  • 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.”

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  • Canopy Growth (TSX:WEED) Stock: Can It Lead the $70 Billion Cannabis Market?
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  • How Top TSX Cannabis Stocks Are Placed for the Future
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  • Canopy Growth & Acreage Holdings Agree to Modify Plan of Arrangement as Canopy Growth's U.S. Expansion Continues
    CNW Group

    Canopy Growth & Acreage Holdings Agree to Modify Plan of Arrangement as Canopy Growth's U.S. Expansion Continues

    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 ...

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

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    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.

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  • 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

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  • Deep Space Cannabis Beverage Has Launched
    CNW Group

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