Canopy Growth Corporation (CGC - Free Report) shares ended the last trading session 8.6% higher at $14.34. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.4% loss over the past four weeks.
The stock scored a strong price increase driven by the optimism surrounding the company’s recent announcement, planning to acquire 100% of the outstanding membership interests of Wana Brands -- the #1 cannabis edibles brand in North America by market share. The acquisition will position Canopy Growth as the world’s leading cannabis company and will serve to strengthen the company’s market position in both Canada and the United States. Furthermore, the acquisition will increase the company’s U.S cannabis market exposure upon federal permissibility.
This company is expected to post quarterly loss of $0.14 per share in its upcoming report, which represents a year-over-year change of -187.5%. Revenues are expected to be $116.96 million, up 3.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Canopy Growth Corporation, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CGC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Highest Returns for Any Asset Class
It’s not even close. Despite ups and downs, Bitcoin has been more profitable for investors than any other decentralized, borderless form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
Hurry, Download Special Report – It’s FREE >>
Canopy Growth Corporation (CGC - Free Report) shares ended the last trading session 8.6% higher at $14.34. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 2.4% loss over the past four weeks.
The stock scored a strong price increase driven by the optimism surrounding the company’s recent announcement, planning to acquire 100% of the outstanding membership interests of Wana Brands -- the #1 cannabis edibles brand in North America by market share. The acquisition will position Canopy Growth as the world’s leading cannabis company and will serve to strengthen the company’s market position in both Canada and the United States. Furthermore, the acquisition will increase the company’s U.S cannabis market exposure upon federal permissibility.
This company is expected to post quarterly loss of $0.14 per share in its upcoming report, which represents a year-over-year change of -187.5%. Revenues are expected to be $116.96 million, up 3.3% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Canopy Growth Corporation, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on CGC going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank 3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Highest Returns for Any Asset Class
It’s not even close. Despite ups and downs, Bitcoin has been more profitable for investors than any other decentralized, borderless form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin’s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
Hurry, Download Special Report – It’s FREE >>
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