Canopy Growth Corp (CGC) stock has gained 8.43% over the past week and gets a Bullish rating from InvestorsObserver's 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.
Recent trends are a good indator of current market sentiments. In its most basic form, stocks that are trending up are desirable by investors while stocks currently falling must be unattractive.
InvestorsObserver's Sentimental Indicator tracks both changes in price and volume to analyze the most recent trends. Typically an increase in volume indicates ongoing trends are getting stronger, while a decrease in volume usually signals an end to the current trend.
Available options can also represent current sentiments for a given stock. Since investors are able to bet on future trends of stocks using options, we consider the ratio of calls to puts when analyzing market sentiments .
What's Happening With CGC Stock Today?
Canopy Growth Corp (CGC) stock is trading at $16.07 as of 1:24 PM on Thursday, Apr 30, a loss of -$0.95, or -5.61% from the previous closing price of $17.02. The stock has traded between $16.05 and $16.93 so far today. Volume today is light. So far 3,066,139 shares have traded compared to average volume of 5,783,503 shares.
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