What's Going On With Canopy Growth Stock Wednesday?
Portfolio Pulse from Erica Kollmann
Canopy Growth Corporation (NASDAQ:CGC) shares are trading lower by 12% on heavy volume, following a 20% rise on Monday. The company recently recognized the successful commencement of trading of TerrAscend Corp. on the Toronto Stock Exchange, in which Canopy has an approx 18% stake. The earlier rise in CGC shares was due to the completion of a series of balance sheet actions aimed at reducing costs and increasing profitability.
July 05, 2023 | 2:35 pm
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Canopy Growth Corporation's shares are trading lower by 12% after a 20% rise on Monday. The company has an 18% stake in TerrAscend Corp. which recently started trading on the Toronto Stock Exchange.
The drop in Canopy Growth Corporation's shares could be a market correction after the 20% rise on Monday. The company's stake in TerrAscend Corp., which recently started trading, could also be influencing the stock's performance.
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IMPORTANCE 80
RELEVANCE 100