Trading Strategies For Canopy Growth Stock Before And After Q2 Earnings
Portfolio Pulse from Melanie Schaffer
Canopy Growth Corporation (NASDAQ:CGC) is set to release its Q2 earnings after market close on Thursday. The stock has been sliding over 9% ahead of the event. In Q1, the company reported sales of $90.16 million, beating the analyst consensus estimate of $68.01 million. For Q2, analysts estimate a loss of 13 cents per share on revenues of $68.05 million. The stock looks bearish heading into the event, having recently confirmed a new downtrend.
November 09, 2023 | 8:27 pm
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Canopy Growth Corporation's stock has been sliding over 9% ahead of its Q2 earnings release. Analysts estimate a loss of 13 cents per share on revenues of $68.05 million. The stock looks bearish heading into the event.
The stock has been sliding over 9% ahead of the earnings release, indicating a bearish sentiment among investors. The analysts' estimate of a loss for the quarter could further impact the stock negatively. The recent confirmation of a new downtrend also suggests a potential further decline in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100