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    WEED   CA1380351009

CANOPY GROWTH CORPORATION

(WEED)
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Delayed Toronto Stock Exchange  -  04:00 2022-07-05 pm EDT
3.520 CAD   -3.03%
05:24pCANOPY GROWTH : Announces Exchanges with Holders of Approximately US$198 Million of Convertible Notes - Form 8-K
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05:18pCANOPY GROWTH CORP : Entry into a Material Definitive Agreement, Unregistered Sale of Equity Securities, Regulation FD Disclosure, Other Events, Financial Statements and Exhibits (form 8-K)
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07/01Canaccord Genuity Adjusts Canopy Growth Price Target to CA$3.50 From CA$4.50, Maintains Sell Rating
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Toronto index up as tech, cyclical stocks gain

05/27/2022 | 10:05am EDT

May 27 (Reuters) - Canada's main stock index rose on Friday, putting it on track for its best weekly performance in more than three months, aided by gains in technology and cyclical shares amid an upbeat mood in global equities.

At 9:47 a.m. ET (13:47 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 87.44 points, or 0.43%, at 20,619.62. It appeared set to gain for a sixth consecutive session, its longest winning streak since mid-March.

Sentiment in global markets remained buoyant on an optimistic earnings outlook and as the Federal Reserve minutes released earlier this week eased concerns about aggressive interest rate hikes.

"I think it has been in a better mood since the FOMC minutes on Wednesday, which have largely been interpreted as providing some hope that rates may not be tightened as aggressively as had previously been anticipated, and certainly not to the extent that the likes of Brainard were suggesting just a few weeks ago," said Stuart Cole, head macroeconomist at Equiti Capital.

Technology stocks rose 1.5%, leading gains in the index with e-commerce company Shopify up 2.8%, while consumer discretionary shares fell 1.12%.

Pot producer Aurora Cannabis fell 32.0% to the bottom of the index after it upsized its previously announced bought deal financing. Canopy Growth Corp shed 14.6% after it reported a larger adjusted core loss for the fourth quarter, as demand for cannabis fell from COVID-19 lockdown-induced highs.

Healthcare shares fell 5.4%, while the energy sector dropped 0.2%, weighed down by weaker crude prices.

The financials sector gained 0.8%, with National Bank of Canada up 2.6%, leading gains after its second-quarter profit beat estimates on lower-than-expected provisions for credit losses (PCL).

The benchmark index, up 2% so far this week, was on track to post its best weekly gain since early-February as resilience in oil prices has supported energy shares, while financial stocks have advanced on the back of upbeat bank earnings.

(Reporting by Amal S in Bengaluru; Editing by Vinay Dwivedi)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AURORA CANNABIS INC. 5.33% 1.78 Delayed Quote.-75.33%
CANOPY GROWTH CORPORATION -3.03% 3.52 Delayed Quote.-67.12%
NATIONAL BANK OF CANADA -0.41% 84.92 Delayed Quote.-12.41%
SHOPIFY INC. 8.25% 34 Delayed Quote.-77.20%
All news about CANOPY GROWTH CORPORATION
05:24pCANOPY GROWTH : Announces Exchanges with Holders of Approximately US$198 Million of Conver..
PU
05:18pCANOPY GROWTH CORP : Entry into a Material Definitive Agreement, Unregistered Sale of Equi..
AQ
07/01Canaccord Genuity Adjusts Canopy Growth Price Target to CA$3.50 From CA$4.50, Maintains..
MT
07/01BioSteel Welcomes Bruce Jacobson as President
AQ
07/01Canopy Growth Enters Additional Exchanges with Noteholders
MT
06/30Canopy Growth Announces Additional Exchanges with Holders of Notes
PR
06/30TSX tumbles nearly 14% in second quarter amid recession fears
RE
06/30Piper Sandler Lowers Canopy Growth's Target to US$3, Says Sales to Remain Pressured
MT
06/30Canopy Growth Declines 20%, CIBC Lowers Price Target
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06/30Constellation Brands' Fiscal First-Quarter Results Top Estimates; Proposes to Overhaul ..
MT
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Analyst Recommendations on CANOPY GROWTH CORPORATION
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Financials
Sales 2023 521 M 399 M 399 M
Net income 2023 -413 M -316 M -316 M
Net Debt 2023 329 M 252 M 252 M
P/E ratio 2023 -3,29x
Yield 2023 -
Capitalization 1 463 M 1 120 M 1 120 M
EV / Sales 2023 3,44x
EV / Sales 2024 2,87x
Nbr of Employees 3 151
Free-Float 64,6%
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Technical analysis trends CANOPY GROWTH CORPORATION
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Consensus
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Mean consensus UNDERPERFORM
Number of Analysts 21
Last Close Price 3,52 CAD
Average target price 6,89 CAD
Spread / Average Target 95,7%
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