Canopy Growth Corporation (CGC, Financial) recently experienced a significant drop in its stock price, plunging by 5.08% to $3.74 per share. The trading volume reached 4.54292 million shares with a turnover rate of 4.31% and a price fluctuation of 7.61%.
According to the latest financial report, Canopy Growth (CGC, Financial) reported a revenue of $46.18 million, with a net loss of $96.45 million. The earnings per share were at a negative $1.08, and gross profit stood at $11.60 million, resulting in a negative price-to-earnings ratio of 0.80. Among 11 institutions rating the stock, 9% recommended a buy, 55% suggested holding, and 36% advised selling.
The pharmaceutical industry, where Canopy Growth (CGC, Financial) operates, saw an overall decline of 0.30%. Key stocks in the sector displayed varied activity, with notable gains in companies like Cyclo Therapeutics Inc, Im Cannabis Corp., and Sunshine Biopharma Inc. Evoke Pharma, Inc., Akanda Corp., and Rockwell Medical, Inc. were particularly active, with turnover rates of 13.08%, 8.96%, and 7.65%, respectively. Im Cannabis Corp. and Sunshine Biopharma Inc showed notable price fluctuations of 44.26% and 41.22%.
Canopy Growth Corporation, headquartered in Smiths Falls, Canada, cultivates and sells medical and recreational cannabis through brands like Doja, 7ACRES, Tweed, and Deep Space. Its non-THC product line includes CBD skincare under Martha Stewart CBD and Storz & Bickel vaporizers. The company's U.S. assets are managed by an independently operated holding company, Canopy USA, which is not included in the Canadian company's financial statements.
