Canopy Growth shares are trading lower after the company announced it established a $250 million at-the-market equity program allowing it to issue and sell up to $250 million of common shares.
Portfolio Pulse from Benzinga Newsdesk
Canopy Growth shares are trading lower after the company announced a $250 million at-the-market equity program allowing it to issue and sell up to $250 million of common shares.
June 06, 2024 | 3:27 pm
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Canopy Growth shares are trading lower following the announcement of a $250 million at-the-market equity program. This move allows the company to issue and sell up to $250 million of common shares, which could dilute existing shareholders' value.
The announcement of an at-the-market equity program often leads to a decrease in share price due to potential dilution of existing shares. Investors may react negatively to the increased supply of shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100