Canopy Growth Corp (NASDAQ: CGC) stock enjoyed a major increase of 20.5% on 3/18/24. The shares closed at $3.71. Moreover, trading volume in this advance was exceptionally high at 448% of normal. The stock has risen 21.6% during the last week but has been weak relative to the market over the last nine months.
Current PriceTarget Research Rating
CGC is expected to continue to be Value Creation neutral reflecting capital returns that are forecasted to be in line with the cost of capital.
Canopy Growth has a current Value Trend Rating of C (High Neutral). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing very contradictory signals. Canopy Growth has a very high Appreciation Score of 87 but a poor Power Rating of 29, and the High Neutral Value Trend Rating results.
Rating Review
In light of this very positive price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
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