What's Going On With Canopy Growth Stock?
Portfolio Pulse from Erica Kollmann
Canopy Growth Corporation (NASDAQ:CGC) shares are trading higher due to positive earnings from Tilray Brands, Inc. (NASDAQ:TLRY) and favorable political developments for marijuana reform in the U.S. Canopy Growth is set to report its Q1 results on Aug. 9, with analysts expecting losses of 35 cents per share and revenue of $53.84 million.
July 30, 2024 | 4:40 pm
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POSITIVE IMPACT
Canopy Growth shares are trading higher due to positive earnings from Tilray and favorable political developments for marijuana reform in the U.S. Canopy is set to report Q1 results on Aug. 9, with expected losses of 35 cents per share and revenue of $53.84 million.
The positive earnings report from Tilray and favorable political developments for marijuana reform are likely to boost investor sentiment for Canopy Growth. The upcoming Q1 earnings report could further influence the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Tilray shares are trading higher after the company reported better-than-expected quarterly results, with cannabis net revenue increasing 12% to $71.9 million and total revenue growing 25% year-over-year.
Tilray's strong earnings report, with significant revenue growth, is likely to positively impact its stock price in the short term as it boosts investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100