All articles tagged with #cgc
Canopy Growth Corporation (CGC) shares are trading higher as the stock recovers from a recent loss, despite being down 34% over the last month. The company received EU GMP certification for its cannabis cultivation facility, allowing it to continue exporting certified medical cannabis to European and global markets. Canopy Growth is also attempting to merge its U.S. assets into a separately operated holding company, Canopy USA.
Canopy Growth Corporation (CGC) shares are trading lower on Wednesday, pulling back after a 20% rise on Monday. The stock is reacting to the successful trading commencement of TerrAscend Corp., in which Canopy has an 18% ownership stake. CGC shares had previously risen after the completion of balance sheet actions aimed at reducing costs and increasing profitability. Trading volume is heavy, with over 8.4 million shares traded compared to the 100-day average of 11.08 million shares. Canopy shares are currently trading 17.3% lower at 43 cents.
Bank stocks rose on Monday, with gains from Ally Financial, U.S. Bancorp, Fifth Third Bancorp, and Lincoln National. NY Community Bancorp surged nearly 32% after agreeing to buy deposits and some loans from shuttered Signature Bank. First Republic Bank plunged 47% to reach an all-time low, dragged down by another S&P downgrade. Canopy Growth was among a group of marijuana-related stocks that slipped to new 52-week lows.