Canopy Growth Co. (TSE:WEED) shares rose 1.4% during trading on Tuesday . The stock traded as high as C$18.42 and last traded at C$18.25. Approximately 1,854,358 shares traded hands during trading, a decline of 32% from the average daily volume of 2,734,461 shares. The stock had previously closed at C$18.00.
WEED has been the subject of several analyst reports. Canaccord Genuity cut Canopy Growth from a “hold” rating to a “sell” rating and upped their price objective for the stock from C$9.50 to C$11.00 in a research report on Thursday, October 12th. Eight Capital upped their price objective on Canopy Growth from C$12.00 to C$18.00 in a research report on Wednesday, November 1st. Finally, Beacon Securities cut Canopy Growth from a “buy” rating to a “hold” rating and set a C$16.50 price objective for the company. in a research report on Monday, November 13th.
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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