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Fly News Breaks for March 5, 2020
CGC
Mar 5, 2020 | 07:02 EDT
BofA analyst Christopher Carey noted that Canopy Growth announced it was permanently shuttering about 3M licensed square feet of production capacity in British Columbia, which he said is roughly half its licensed footprint in Canada. It is a "bold move," which is also a "clear positive," as it offloads a weight on Canopy results and likely frees up significant working capital as well, Carey tells investors. He sees the cuts as "an acknowledgement of past transgressions" and also a sign that the company now has the the "courage in place today to make right, and difficult, decisions" for longer term value, added the analyst, who has a Buy rating and C$36 price target on Canopy shares.
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.