Canopy Growth Corp (CGC) stock has fallen 2.55% over the past week and gets a Neutral rating from InvestorsObserver's Sentiment Indicator.
What is Stock Sentiment?
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.
Sentiment is how investors, or the market, feels about a stock. There are lots of ways to measure sentiment. At the core, sentiment is pretty easy to understand. If a stock is going up, investors must be bullish, while if it is going down, sentiment is bearish.
InvestorsObserver’s Sentiment Indicator looks at price trends over the past week and also considers changes in volume. Increasing volume can mean a trend is getting stronger, while decreasing volume can mean a trend is nearing a conclusion.
For stocks that have options, our system also considers the balance between calls, which are often bets that the price will go up, and puts, which are frequently bets that the price will fall.
What's Happening With CGC Stock Today?
Canopy Growth Corp (CGC) stock is trading at $16.05 as of 3:57 PM on Thursday, Jul 9, a decline of -$0.27, or -1.69% from the previous closing price of $16.32. The stock has traded between $15.57 and $16.38 so far today. Volume today is low. So far 2,435,268 shares have traded compared to average volume of 6,436,903 shares.
To see the top 5 stocks in the Drug Manufacturers - Specialty & Generic industry 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.
