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    WEED   CA1380351009

CANOPY GROWTH CORPORATION

(WEED)
  Report
Delayed Toronto Stock Exchange  -  04:00:00 2023-02-06 pm EST
3.940 CAD   +0.25%
02/02Industry for 'purity law' for cannabis - legalization still open
DP
02/02Proposal for 'purity law' for cannabis
DP
01/19Canopy Growth to Report Third Quarter Fiscal 2023 Financial Results on February 9, 2023
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Technology stocks drag TSX lower; BoC rate decision in focus

12/05/2022 | 11:27am EST

Dec 5 (Reuters) - Canada's main stock index dropped on Monday, as elevated government bond yields dented rate-sensitive technology shares, while investor focus shifted to the Bank of Canada's interest rate meeting due later this week.

At 10:42 a.m. ET (1542 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 100.71 points, or 0.49%, at 20,384.95.

Technology stocks fell 1.1%, with BlackBerry leading losses with a drop of more than 5%.

The Bank of Canada on Wednesday will be one of the first major economies to announce its rate-hike decision with the U.S. Federal Reserve and the European Central Bank set to follow next week.

Traders are pricing in a 69.1% chance of a dialed-down 25-bps hike to 4% on Wednesday, after the central bank had surprised markets with a 50-bps increase last month.

"I am more of the belief now that this might be the last of its hike," said Bryden Teich, portfolio manager at Avenue Investment Management.

"Directionally, we are getting closer to an end for where they intend to take the overnight rate."

Materials lost 0.8% as gold miners dropped after bullion pulled back from a five-month high on Monday.

Prominent cannabis companies Canopy Growth Corp and Tilray Brands surged up to 6%, boosting the broader healthcare by 3.7%.

Shares of cannabis stocks jumped as analysts expect a positive update on pivotal U.S. banking bill that could provide further legitimacy to the sector.

Meanwhile, the value of Canadian building permits fell by 1.4% in October from prior month, as per Statistics Canada data.

Among individual stocks, AltaGas gained 5.7% after the energy company reported a higher full-year outlook. (Reporting by Shashwat Chauhan in Bengaluru; Editing by Krishna Chandra Eluri and Sherry Jacob-Phillips)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ALTAGAS LTD. 0.60% 24.95 Delayed Quote.6.07%
BLACKBERRY LIMITED -1.00% 5.94 Delayed Quote.36.05%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.15% 0.7445 Delayed Quote.1.00%
CANOPY GROWTH CORPORATION 0.25% 3.94 Delayed Quote.25.16%
S&P/TSX COMPOSITE INDEX -0.62% 20628.92 Delayed Quote.7.09%
TILRAY BRANDS, INC. -0.31% 3.19 Delayed Quote.18.59%
US DOLLAR / CANADIAN DOLLAR (USD/CAD) -0.17% 1.3421 Delayed Quote.-1.00%
All news about CANOPY GROWTH CORPORATION
02/02Industry for 'purity law' for cannabis - legalization still open
DP
02/02Proposal for 'purity law' for cannabis
DP
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
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01/05Constellation Brands Cuts Fiscal 2023 Profit Outlook Following Third-Quarter Miss
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01/03Canopy Growth Corp : Other Events, Financial Statements and Exhibits (form 8-K)
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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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Analyst Recommendations on CANOPY GROWTH CORPORATION
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Financials
Sales 2023 465 M 346 M 346 M
Net income 2023 -2 466 M -1 834 M -1 834 M
Net Debt 2023 395 M 293 M 293 M
P/E ratio 2023 -0,69x
Yield 2023 -
Capitalization 1 915 M 1 424 M 1 424 M
EV / Sales 2023 4,97x
EV / Sales 2024 4,74x
Nbr of Employees 3 151
Free-Float 64,2%
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Technical analysis trends CANOPY GROWTH CORPORATION
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Mean consensus UNDERPERFORM
Number of Analysts 20
Last Close Price 3,94 CAD
Average target price 4,83 CAD
Spread / Average Target 22,7%
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