Overall market sentiment has been down on Canopy Growth Corp (CGC) stock lately. CGC receives a Bearish rating from InvestorsObserver's Stock 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.
Recent trends are a good indicator 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 $35.43 as of 10:10 AM on Tuesday, Jan 26, a rise of $2.52, or 7.66% from the previous closing price of $32.91. The stock has traded between $33.18 and $36.15 so far today. Volume today is less active than usual. So far 2,874,917 shares have traded compared to average volume of 5,365,774 shares.
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 Score Report on Canopy Growth Corp (CGC) Stock.
