Overall market sentiment has been high on Canopy Growth Corp (CGC) stock lately. CGC receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator.
Canopy Growth Corp has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on CGC!
In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company.
Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down.
InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend.
Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.
What's Happening With CGC Stock Today?
Canopy Growth Corp (CGC) stock is up 5.59% while the S&P 500 is lower by -0.99% as of 9:52 AM on Monday, Dec 5. CGC is up $0.24 from the previous closing price of $4.29 on volume of 2,298,737 shares. Over the past year the S&P 500 has fallen -12.20% while CGC is lower by -55.37%. CGC lost -$1.79 per share in the over the last 12 months.
To see InvestorsObserver's Sentiment Score for Canopy Growth Corp click here.
More About Canopy Growth Corp
Canopy Growth, headquartered in Smiths Falls, Canada, cultivates and sells medicinal and recreational cannabis, and hemp, through a portfolio of brands that include Tweed, Spectrum Therapeutics, and CraftGrow. Although it primarily operates in Canada, Canopy has distribution and production licenses in more than a dozen countries to drive expansion in global medical cannabis and also holds an option to acquire Acreage Holdings upon U.S. federal cannabis legalization.
Click Here to get the full Stock Report for Canopy Growth Corp stock.
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