2024-06-17 05:55:01 ET
Summary
- Canopy Growth recently reported improved financial performance for Q4-2024.
- Canopy USA has acquired US THC cannabis assets and plans to acquire more.
- The company expects an increase in demand for its international cannabis exports.
- Canopy Growth's stock price is down this month, but recently experienced a sustained rally on news of cannabis rescheduling in the US.
- I continue my previous rating of a Hold and unpack the risks.
Canopy Growth (CGC) is down 18%-19% since I last covered the company in April. Over the last three months, it has been up 161% and a leader in the cannabis rally. The company’s recent Q4-2024 report, released May 30 th , showed continued financial recovery and slightly improved financial performance. The current investor sentiment has been bearish on cannabis, while news of rescheduling is awaited. The cannabis rally has lost steam this summer, although it may come back....
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Canopy Growth: Cannabis Rally Loses Steam On Long-Term Uncertainty (Hold)