CGC-300x156 World’s Largest Cannabis Stock Skyrockets to All-Time Highs

Ever since Canopy Growth (CGC) began trading on the NYSE in May, it had been slowly moving upward (1) until its shares took a hit when Ontario had announced delaying its launch of retail marijuana outlets (2).

It’s most recent earnings report was far from stellar (3), a surprise -0.40 from an estimated -0.13.

But then wine and spirits magnate, Constellation Brands, announced last week (4) that it would increase its stake in Canopy to $4 billion.  This news sent Canopy’s stock skyrocketing to all-time highs, reaching $40.26 per share a the time of this writing (5).

 


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