Canopy Growth Corp (CGC) stock is higher by 6.14% over the past week and gets a Neutral rating from InvestorsObserver's Sentiment Indicator.
What is Stock Sentiment?
Sentiment uses short term technical analysis to gauge whether a stock is desired by investors. As a technical indicator, it focuses on recent trends as opposed to the long term health of the underlying company. Updates for the company such as a earnings release can move the stock away from current trends.
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 up 5.11% while the S&P 500 is lower by -1.01% as of 12:06 PM on Tuesday, Apr 14. CGC has gained $0.74 from the previous closing price of $14.48 on volume of 1,877,007 shares. Over the past year the S&P 500 is lower by -4.95% while CGC is lower by -62.63%. CGC lost -$1.79 per share in the over the last 12 months.
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