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    WEED   CA1380351009

CANOPY GROWTH CORPORATION

(WEED)
  Report
Delayed Toronto Stock Exchange  -  04:00:00 2023-01-27 pm EST
3.890 CAD   +5.71%
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

TSX closes below 20,000 mark as oil prices slide

12/06/2022 | 04:28pm EST

(Adds strategist quotes and details throughout; updates prices)

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TSX ends down 252.09 points, or 1.25%, at 19,990.17

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All of the TSX's 10 main groups lose ground

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Energy sector falls 3.5%, matching decline in oil

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Pot stocks tumble; Canopy Growth ends 16.4% lower

TORONTO, Dec 6 (Reuters) - Canada's main stock index fell on Tuesday to a two-week low as lower oil prices weighed on resource shares and investors braced for another interest rate hike by the Bank of Canada.

The Toronto Stock Exchange's S&P/TSX composite index ended down 252.09 points, or 1.25%, at 19,990.17, its lowest closing level since Nov. 21.

"We are looking at a pretty broadbased decline," said Colin Cieszynski, chief market strategist at SIA Wealth Management. "It says to me it is more related to general equity market weakness and perhaps some concern that the (Canadian) central bank is going to remain relatively hawkish."

Wall Street benchmarks also fell as uncertainty around the direction of Federal Reserve rate hikes and further talk of a looming recession weighed on skittish investors.

Money markets are betting on a 25-basis-point increase when the BoC meets to set policy on Wednesday but a slim majority of economists in a Reuters poll expect a larger move.

All 10 of the TSX's major sectors lost ground, including a decline of 3.5% for the energy sector. That matched the decline for U.S. crude prices, which settled at $74.25 a barrel, as global demand concerns weighed.

Shares of Cenovus Energy Inc were down 3.6% as the company forecast higher capital expenditure and production in 2023.

Heavily weighted financials fell 0.9%, while technology ended 2.1% lower.

Pot stocks Canopy Growth and Tilray Brands lost 16.4% and 12.7%, respectively, after rallying for five straight sessions on expectations of a positive update on a pivotal U.S. banking bill that could provide further legitimacy to the sector. (Reporting by Fergal Smith; Additional reporting by Shashwat Chauhan in Bengaluru; Editing by Will Dunham)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BRENT OIL -1.57% 86.05 Delayed Quote.1.71%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) -0.01% 0.7507 Delayed Quote.1.73%
CANOPY GROWTH CORPORATION 5.71% 3.89 Delayed Quote.23.89%
CENOVUS ENERGY INC. 1.08% 27.15 Delayed Quote.3.35%
S&P/TSX COMPOSITE INDEX 0.07% 20714.48 Delayed Quote.6.86%
TILRAY BRANDS, INC. 4.56% 3.21 Delayed Quote.19.33%
US DOLLAR / CANADIAN DOLLAR (USD/CAD) 0.02% 1.3309 Delayed Quote.-1.64%
WTI 0.00% 79.45 Delayed Quote.0.75%
All news about CANOPY GROWTH CORPORATION
01/19Canopy Growth to Report Third Quarter Fiscal 2023 Financial Results on February 9, 2023
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01/11Canopy Growth : BioSteel Cements Its Position as Sports Hydration Drink of the Ice and Bec..
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01/11FDP urges rapid legalization of cannabis
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01/09Customs union against cannabis legalization
DP
01/05Constellation Brands Cuts Fiscal 2023 Profit Outlook Following Third-Quarter Miss
MT
01/03Canopy Growth Corp : Other Events, Financial Statements and Exhibits (form 8-K)
AQ
01/03Canopy Growth Closes Sale of Canadian Retail Operations
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01/03Canopy Growth Brief: Adds Transaction Supports Co's Focus On Achievi..
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01/03Canopy Growth Completes Divestiture of Canadian Retail Operations
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01/03Canopy Growth Brief: Says Completed Divestiture of Canadian Retail O..
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More news
Analyst Recommendations on CANOPY GROWTH CORPORATION
More recommendations
Financials
Sales 2023 466 M 350 M 350 M
Net income 2023 -2 466 M -1 852 M -1 852 M
Net Debt 2023 382 M 287 M 287 M
P/E ratio 2023 -0,68x
Yield 2023 -
Capitalization 1 890 M 1 420 M 1 420 M
EV / Sales 2023 4,87x
EV / Sales 2024 4,62x
Nbr of Employees 3 151
Free-Float 64,2%
Chart CANOPY GROWTH CORPORATION
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Technical analysis trends CANOPY GROWTH CORPORATION
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Income Statement Evolution
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Mean consensus UNDERPERFORM
Number of Analysts 20
Last Close Price 3,89 CAD
Average target price 4,87 CAD
Spread / Average Target 25,1%
EPS Revisions
Managers and Directors
David Eric Klein Chief Executive Officer & Non-Independent Director
Judy Hong Chief Financial Officer & VP-Investor Relations
Judy A. Schmeling Chairman
Mark A. Ware Chief Medical Officer
Jonathan Di Tosto Chief Operating Officer