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Fly News Breaks for October 11, 2019
CGC
Oct 11, 2019 | 08:20 EDT
Jefferies analyst Owen Bennett downgraded Canopy Growth to Underperform from Hold with a price target of $18.80. The stock closed Thursday down $2.37 to $20.42. Despite the recent selloff in shares, Canopy is the most expensive name across the cannabis space, Bennett tells investors in a research note. The analyst, who believes the company still has "material potential" long-term, says signs of share pressures in Canada, weak margin and profit performance in the near term, a lack of material catalysts, and "question marks over how successful beverages will be" warrant a downgrade to Underperform.
News For CGC From the Last 2 Days
CGC
Mar 28, 2024 | 11:32 EDT
In this edition of "Rising High," The Fly conducted an exclusive interview with Sundie Seefried, founder and chief executive officer of Safe Harbor Financial (SHFS), a financial services provider to the regulated cannabis industry. Here are some... To see the rest of the story go to thefly.com. See Story Here
CGC
Mar 27, 2024 | 10:46 EDT
Bullish option flow detected in Canopy Growth with 18,324 calls trading, 3x expected, and implied vol increasing almost 7 points to 203.48%. 3/28 weekly 8 calls and 3/28 weekly 11 calls are the most active options, with total volume in those strikes near 11,200 contracts. The Put/Call Ratio is 0.18. Earnings are expected on May 30th.