On 8/1/24, Canopy Growth Corp (NASDAQ: CGC) stock suffered a major decline of -10.9%, closing at $6.77. Moreover, this decline was accompanied by above average trading volume at 149% of normal. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -7.5% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to exceed the cost of capital, CGC is expected to be a modest Value Builder.
Canopy Growth has a current Value Trend Rating of C (Neutral). The Value Trend Rating reflects very contradictory signals from PTR’s two proprietary measures of a stock’s attractiveness. Canopy Growth has a very low Appreciation Score of 12 but a very high Power Rating of 88, leading to the Neutral Value Trend Rating.
Rating Review
In light of this highly negative price change we are reviewing our current Overall Rating of C. This review will be completed in the next several days.
Be the first to comment