Canopy Growth (WEED) Stock Price Down 4.7%

Canopy Growth Corp (TSE:WEED) shares were down 4.7% during mid-day trading on Wednesday . The company traded as low as C$27.32 and last traded at C$27.45. Approximately 8,769,498 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 8,864,175 shares. The stock had previously closed at C$28.80.

A number of research analysts have recently issued reports on WEED shares. Cowen lifted their price objective on shares of Canopy Growth from C$24.00 to C$44.00 in a research report on Monday, January 8th. Canaccord Genuity lifted their price objective on shares of Canopy Growth from C$11.00 to C$14.00 and gave the stock a “hold” rating in a research report on Tuesday, October 31st. Eight Capital lifted their price objective on shares of Canopy Growth from C$18.00 to C$22.00 in a research report on Monday, November 27th. Finally, Beacon Securities downgraded shares of Canopy Growth from a “buy” rating to a “hold” rating and set a C$16.50 price objective on the stock. in a research report on Monday, November 13th.

The firm has a market capitalization of $5,400.00, a PE ratio of -234.75 and a beta of 0.99.

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About Canopy Growth

Canopy Growth Corporation, through its subsidiaries, produces and sells medical marijuana in Canada. The company offers dried, oil, and softgel cannabis products. Canopy Growth Corporation also sells its products through online. The company was formerly known as Tweed Marijuana Inc and changed its name to Canopy Growth Corporation in September 2015.

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