What’s Canopy Growth Corp Upside After Reaching All-Time High?

 What's Canopy Growth Corp Upside After Reaching All Time High?

The stock of Canopy Growth Corp (TSE:CGC) reached all time high today, Nov, 8 and still has $12.16 target or 61.00% above today’s $7.55 share price. This indicates more upside for the $923.29M company. This technical setup was reported by Barchart.com. If the $12.16 PT is reached, the company will be worth $563.21 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 973,441 shares traded hands. Canopy Growth Corp (TSE:CGC) has risen 166.02% since April 1, 2016 and is uptrending. It has outperformed by 164.07% the S&P500.

More recent Canopy Growth Corp (TSE:CGC) news were published by: Bloomberg.com which released: “Snoop Dogg Partnership Sends Canadian Weed Stock to Epic High” on October 06, 2016. Also Midasletter.com published the news titled: “Canopy Growth Corp: Dominating the Canadian Medical Marijuana Space” on May 13, 2016. 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 was also an interesting one.

Canopy Growth Corporation, formerly Tweed Marijuana Inc., is a diversified cannabis company. The company has a market cap of $923.29 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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