The market has been neutral on Canopy Growth Corp (CGC) stock recently. CGC gets a Neutral score from InvestorsObserver's Stock Sentiment Indicator.
What is Stock Sentiment?
Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score.
As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend.
Price action is generally the best indicator of sentiment. For a stock to go up, investors must feel good about it. Similarly, a stock that is in a downtrend must be out of favor.
InvestorsObserver’s Sentiment Indicator considers price action and recent trends in volume. Increasing volumes often mean that a trend is strengthening, while decreasing volumes can signal that a reversal could come soon.
The options market is another place to get signals about sentiment. Since options allow investors to place bets on the price of a stock, we consider the ratio of calls and puts for stocks where options are available.
What's Happening With CGC Stock Today?
Canopy Growth Corp (CGC) stock is trading at $16.73 as of 2:17 PM on Wednesday, Jul 1, an increase of $0.57, or 3.53% from the previous closing price of $16.16. The stock has traded between $16.08 and $16.94 so far today. Volume today is less active than usual. So far 1,802,940 shares have traded compared to average volume of 7,843,971 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.
