What is CGC? Today we are talking about this topic. CGC Stock (Canopy Growth Corporation), formerly Tweed Marijuaa Inc. It is a cannabis company. It was founded in 2013 with the name of Tweed and the founders of Tweed, Bruce Linton, and Chuck Rifici changed the company’s name to Canopy Growth Corporation in 2015. CGC, which has the title of being the largest cannabis company in the world, achieved this title in April 2019. However, after some problems in 2019, the stock prices of the company caused a decrease of 32%.
Canopy Growth, the first publicly traded, federally regulated and licensed cannabis production company in North America, was listed as WEED on the Toronto Stock Exchange. In addition, the first legal cannabis sale in Canada was made by the company’s CEO, Bruce Linton.
Also in August 2018, a partnership with Constellation Brands was announced. Announcing its partnership with Constellation Brands, a company that produces American-based alcoholic beverages for global markets, the company announced a 38% ownership-partnership with an investment of US3.8 billion.
Canopy Growth has entered into a partnership in Spain with the pharmaceutical company Alcaliber S.A., which has a branch in Germany, Spektrum Cannabis GmbH and has a partnership with Spektrum Cannabis Denmark ApS. It alsı has operations in Jamaica, Chile, Peru and Brazil, and Australia. In 2018, it purchased Annabis Medical, and Daddy Cann Lesotho, an African medical marijuana supplier. Canopy partnered with the Beckley Foundation to deliver medical cannabis in the United Kingdom in February, 2019.
CGC Stock Price
Canopy Growth Corp. ( CGC Stock ) was worth $26.14 on May 28, 2021, 7.59 p.m EDT. CGC Stock, which increased by 0.19 percent, has been around this average for a long time. Looking at the overviews, CGC Stock ’s open rate is $24.72 and the close rate is $26.09. The 52-week range is 13.83-56.50. The average volume ratio of CGC Stock is 3.63M. In addition, it has a Market Cap of $9.95B.
52-week low date of CGC is 10/02/20. On the other hand, the 52-week high date was recorded as 02/10/21. CGC’s 52-week low price was 13.83 and the 52-week high rate was 56.50. It shares out 348.57M and its 10-day average volume is 3.61M. It is also known that its YTD % change is 5.88. Its EPS (TTM) ratio is -5.12 and P/E (TTM) ratio is -5.10.
In addition, CGC Stock , whose 1-year performance was 50.20%, decreased by %3.19 in its last 1-month performance. CGC Stock ’s performance in the last 3 months has been -20.34%, and it has an improvement rate of 13.53% in the last 5 days. Analyst ratings indicate that it is a suitable time to sell or buy. Since Mid-February, Canopy Growth Stock is down 42%. For investors, Canopy Growth is one of the most popular stocks to invest in.
The Great Time to Invest in CGC Stock
CGC shares, which were traded at around $19 before the last US elections, showed a large increase after the election. As the cannabis market grows, so will shares. The latest developments are that cannabis stocks will increase. CGC stock, which exceeded $30 with Biden’s win, also exceeded $40 when the control of the Senate has been taken by the Democrats. In February, the share value rose to $56.50.
The CGC shares did not have any dealings at $56.50, $40 or $30. CGC stock have risen 54% in the past year. And neither is it necessarily cheap as well. Canopy stocks remain at 18.3x sales. On the other hand, Canopy is working on manifacturing, legalizing, and growing cannabis brands. In the experts’ opinions, CGC has what it takes to be a leader in the cannabis industry.
This is not investment advice. You must do your own research and make your own decisions. We are not responsible for the problems that may arise from your investment.