Canopy Growth Corp (NASDAQ: CGC) stock closed at $8.35 on 7/22/24 after a major increase of 17.1%. Moreover, exceptionally high trading volume at 209% of normal accompanied the advance. The stock has been exceptionally strong relative to the market over the last nine months and has risen 28.5% 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 good Power Rating of 85, and the 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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