(VIANEWS) – The NASDAQ opens in less than four hours and Canopy Growth‘s pre-market value is already 4.46% down.

Canopy Growth’s last close was $3.14, 80.33% under its 52-week high of $15.96.

The last session, NASDAQ ended with Canopy Growth (CGC) jumping 7.9% to $3.14. NASDAQ rose 3.34% to $11,176.41, after two sequential sessions in a row of gains, on what was a very up trend exchanging session.

Why is Canopy Growth Stock Going up?

There are a few reasons why CGC stock is surging. First, it is a cannabis company. Second, there is a possibility that marijuana will be decriminalized. Decriminalization bills are being considered by the U.S. Congress, but so far they haven’t passed. Regardless, cannabis companies are preparing to enter the U.S. market with acquisitions like Tilray, which bought craft brewer SweetWater Brewing and Breckenridge Distillery. It also acquired hemp products maker Manitoba Harvest.

Lastly, Canopy has managed to expand its business internationally. It has partnered with cannabis production platforms and is educating consumers on its products. This has created a large market for the company, as well as the potential to increase its shareholder return in the long term.

However, Canopy Growth has faced some setbacks in recent months. The company reported a per-share loss of 1.46 Canadian dollars for its fiscal fourth quarter. Analysts had expected a loss of 30 cents. Net revenue in the three months ended in March was 111.8 million, below analyst expectations of 130 million.

Canopy Growth is a cannabis company with a market cap of C$1.9 billion. It sells a variety of hemp and cannabis-based products. Its business is largely divided into three segments: Global Cannabis, Canada and the US. The Global Cannabis segment focuses on production and distribution of cannabinoid-based consumer goods.

About Canopy Growth

Canopy Growth Corporation and its affiliates are involved in producing, distribution and selling cannabis- and hemp-based products primarily for medical and recreational purposes. They do so mainly in Canada, the United States and Germany. The company operates in two distinct segments: Global Cannabis and Other Consumer Products. Products include extracts and concentrates of dried cannabis, drinks, gummies and vapes. The company offers products under Tweed, 7ACRES and 7ACRES Craft Collective brands. It was previously known as Tweed Cannabis Inc., but changed its name in September 2015 to Canopy Growth Corporation. Canopy Growth Corporation, which was founded in 2009, is located in Smiths Falls in Canada.

Earnings Per Share

As for profitability, Canopy Growth has a trailing twelve months EPS of $-5.239.

The company’s return on equity, which measures the profitability of a business relative to shareholder’s equity, for the twelve trailing months is negative -8.84%.

Growth Estimates Quarters

The company’s growth estimates for the current quarter and the next is a negative 133.3% and a negative 950%, respectively.

Yearly Top and Bottom Value

Canopy Growth’s stock is valued at $3.14 at 05:50 EST, way under its 52-week high of $15.96 and way above its 52-week low of $2.13.

Revenue Growth

Year-on-year quarterly revenue growth declined by 24.7%, now sitting on 520.32M for the twelve trailing months.

Moving Average

Canopy Growth’s worth is under its 50-day moving average of $3.23 and way below its 200-day moving average of $5.51.

More news about Canopy Growth (CGC).

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