What's Going On With Canopy Growth Shares?
Portfolio Pulse from Erica Kollmann
Shares of Canopy Growth Corporation (NASDAQ:CGC) are climbing higher, continuing the upward momentum from the last five days. The company recently announced the availability of cannabis gummies from Wana Brands North through its medical cannabis division, Spectrum Therapeutics. The stock is up nearly 10% on above-average trading volume. Canopy Growth will release its Q1 FY2024 financial results on Aug. 9.
July 28, 2023 | 4:58 pm
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Canopy Growth Corporation's stock is rising, likely due to the announcement of new product availability and anticipation of the upcoming Q1 FY2024 financial results. The stock is up nearly 10% on above-average trading volume.
The rise in Canopy Growth Corporation's stock can be attributed to the announcement of the availability of a new product, which could potentially increase the company's revenues. Additionally, the upcoming release of the company's Q1 FY2024 financial results could be creating anticipation among investors, contributing to the stock's rise.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100