The stock of Canopy Growth Corp (TSE:CGC) hit a new 52-week high and has $7.49 target or 23.00% above today’s $6.09 share price. The 8 months bullish chart indicates low risk for the $744.67 million company. The 1-year high was reported on Oct, 18 by Barchart.com. If the $7.49 price target is reached, the company will be worth $171.27 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 803,588 shares traded hands. Canopy Growth Corp (TSE:CGC) has risen 110.71% since March 11, 2016 and is uptrending. It has outperformed by 105.23% the S&P500.
More notable recent Canopy Growth Corp (TSE:CGC) news were published by: Reuters.com which released: “BRIEF-Canopy Growth Corp renews agreement with XIB Consulting Inc” on October 11, 2016, also Midasletter.com with their article: “Canopy Growth Corp: Dominating the Canadian Medical Marijuana Space” published on May 13, 2016, Marketwatch.com published: “Canopy Growth Corporation and Bedrocan Canada Launch Brazil Joint Venture” on June 28, 2016. More interesting news about Canopy Growth Corp (TSE:CGC) were released by: Marketwatch.com and their article: “Canopy Growth Corporation Opens the Market” published on July 26, 2016 as well as Seekingalpha.com‘s news article titled: “Canopy Growth Corp. Leads The Way Towards The Legalized MJ Market In Canada” with publication date: January 05, 2016.
Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a diversified cannabis company. The company has a market cap of $744.67 million. The Company, through its subsidiaries Tweed Inc. , Bedrocan Canada Inc. (Bedrocan) and Tweed Farms Inc. (Tweed Farms), is engaged in the business of producing and selling legal marijuana in the Canadian medical market. It currently has negative earnings. It is also focusing on producing and selling marijuana in the recreational market in Canada.
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