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Canopy Growth (CGC-N)
NYSE:CGC
1.63
0.02
(1.24%) 1d
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Stocks modestly extend sellingThis summary was created by AI, based on 2 opinions in the last 12 months.
Canopy Growth, symbol CGC-N, is currently in a favorable position due to recent developments in the cannabis industry, particularly in Florida, where a legalization vote is set to take place. This impending legislation could have significant implications for the industry, with Canopy recognized as a leading name in the market. Notably, Constellation Brands holds a substantial stake in Canopy, indicating investor confidence. Over the past month, Canopy's shares have seen a remarkable increase of 135%, although they experienced some pullback in recent sessions. The overall sentiment remains positive, especially following President Biden's remarks on full legalization, further bolstering market optimism.
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Has followed this for along time. Constellation Brands owns a large stake in this. Shares are up 135% in the past month, though gave back in recent session. It's still more than doubled since he heard of possible legalization of weed in the U.S. Pres. Biden mentioned full legalization on March 7 and just today Florida said it will place the legalization question on the ballot.
Canopy is the way to play cannabis as we enter a Biden adminIstration. Also, Canopy has the interest of Constellation Brands.
Investors are betting on the Blue Wave, a Democratic sweep. Though Biden hasn't said he'll legalize cannabis, the Dems will make it easier for the cannabis industry to operate. Of note, recreational grass is already legal in 11 states and DC; recreational weed is on the ballot in three states on Nov. 3; and two-thirds of American believe it should be legal, even more when it comes to medicinal grass. No, we won't see a boom in Canadian weed, but instead American companies because American politicians need to serve American businesses first. Canada teaches us that when you legalize weed, EVERYBODY grows it, supply surges, driving the price down and companies don't make money. The one exception is Canopy. One reason is its relationship with Constellation Brands and carries the potential of weed-infused drinks and a leg up against competitors. Canopy itself has been a dog, but is lately showing some life.
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Canopy Growth(CGC-N) Rating
Ranking : 4 out of 5
Bullish - Buy Signals / Votes : 2
Neutral - Hold Signals / Votes : 0
Bearish - Sell Signals / Votes : 0
Total Signals / Votes : 2
Canopy Growth(CGC-N) Frequently Asked Questions
What is Canopy Growth stock symbol?
Canopy Growth is a American stock, trading under the symbol CGC-N on the New York Stock Exchange (CGC). It is usually referred to as NYSE:CGC or CGC-N
Is Canopy Growth a buy or a sell?
In the last year, 2 stock analysts published opinions about CGC-N. 2 analysts recommended to BUY the stock. 0 analysts recommended to SELL the stock. The latest stock analyst recommendation is . Read the latest stock experts' ratings for Canopy Growth.
Is Canopy Growth a good investment or a top pick?
Canopy Growth was recommended as a Top Pick by on . Read the latest stock experts ratings for Canopy Growth.
Why is Canopy Growth stock dropping?
Earnings reports or recent company news can cause the stock price to drop. Read stock experts’ recommendations for help on deciding if you should buy, sell or hold the stock.
Is Canopy Growth worth watching?
2 stock analysts on Stockchase covered Canopy Growth In the last year. It is a trending stock that is worth watching.
What is Canopy Growth stock price?
On 2025-02-21, Canopy Growth (CGC-N) stock closed at a price of $1.63.
Florida's upcoming vote to legalize cannabis could impact the industry. Canopy is the go-to name,