What's Going On With Canopy Growth Corporation Stock?
Portfolio Pulse from Erica Kollmann
Canopy Growth Corporation (NASDAQ:CGC) shares are trading higher, recovering from a loss of over 20% last week. The company recently received EU GMP certification for its cannabis cultivation facility in Ontario, allowing it to continue exporting certified medical cannabis globally. Canopy Growth is also planning to merge its U.S. assets into a separate holding company, Canopy USA.
October 24, 2023 | 4:19 pm
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Canopy Growth Corporation's stock is recovering from a significant loss, bolstered by the recent EU GMP certification for its cannabis facility and plans for a merger of its U.S. assets.
The recent EU GMP certification allows Canopy Growth to continue exporting its products, potentially increasing its revenue. The planned merger of its U.S. assets could streamline operations and improve efficiency, both of which are positive for the stock.
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