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Canopy Growth Corporation

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CGC trade ideas

CGC | A Great Opportunity | LONGCanopy Growth Corp. engages in the production, distribution, and sale of cannabis and cannabinoid-based products for both adult-use and medical purposes. The firm operates through the following segments: Canada Cannabis, Rest-of-world Cannabis, Storz and Bickel, BioSteel, This Works, and Other. The Canada Cannabis segment includes the production, distribution, and sale of cannabis, hemp, and cannabis products in Canada. The Rest-of-world Cannabis segment focuses on production and sale of cannabis, hemp, and cannabis products internationally. The Storz and Bickel segment produces and sells vaporizers. The BioSteel segment refers to the sale of consumer packaged goods including sports nutrition beverages, hydration mixes, proteins, and other specialty nutrition products. The This Works segment includes the production and sale of beauty, skincare, wellness, and sleep products, some of which have been blended with hemp-derived CBD isolate. The company was founded by Bruce Linton on August 5, 2009 and is headquartered in Smith Falls, Canada.
NASDAQ:CGCLong
by DivergenceSeeker
4
CGC - Seen This Movie Before ?CGC Something appears to be brewing in weed stocks currently and Canopy is leading with another pump today - up 16%. Does this looks similar to what we've seen before in crypto stocks GALA and VXV ? Notice that off the bear market we get a ripping pump... Then a collapse down makes a lower low and threatens another wave down. But then a sudden recovery prints a SRP Shakeout Reversal Pattern below the low. And that becomes the first pump of the bull market. Looks like the same game could be afoot here 🤨. Not advice
NASDAQ:CGCLong
by dRends35
8
Canopy Growth (The Bearish Case) (If you are smart the better 1)Hello Guys, found this fractal of Canopy from last cycle indicating a last 5th wave down within this ending diagonal could be on the table for Canopy. This would create a slightly Lower low and offer absolutely insane entry prices for the stock. Smart fellas will accumulate more than 1000 Units and even will be able to make a million dollar brining enough patience to the table. Still this is not my primary scenario this is why I already started accumulating no matter the price. Enjoy the ride, we see us in IBIZA, LA or VEGAS in 2027
NASDAQ:CGCShort
by MrMoMoney
2
CGC prepping for generous PRICE GROWTH!NASDAQ:CGC (Canopy Growth Corp) CGC is lowkey trying to cook something based on the recent price action this past 6 weeks. Net positive volume / accumulation has almost doubled this past few days, from 35M to 61m and continuing to rise. Last QTR earnings (August 9, 2023) has aided the significant price recovery - propelling earnings to green territory to 60.3% and revenues to 20%, first green output in the last 5 quarters (15 months). RR ratio on this one looks attractive. Spotted at 0.55 TAYOR. *Safeguard funds always. Factor the muted financial standing of this stock before trading.
NASDAQ:CGCLong
by JSAL
10
Biden Administration Proposes Major Shift in Cannabis PolicyThe Biden administration has taken steps to reclassify marijuana use as a less serious crime. This potential policy change, if finalized, stands to be the most substantial adjustment in federal marijuana regulations in over four decades. The U.S. Department of Justice, overseeing the Drug Enforcement Administration (DEA), has recommended reclassifying cannabis from a Schedule I drug, which denotes substances with a high potential for abuse and no accepted medical use, to a Schedule III drug. This reclassification would reflect a recognition of marijuana's lower potential for physical and psychological dependence compared to other controlled substances. Shares of cannabis companies soared in response to the news, with stocks like Tilray, Trulieve Cannabis Corp, and Green Thumb Industries experiencing surges of over 20% in late afternoon trading. This market reaction underscores the significant financial implications of potential regulatory changes in the cannabis industry. However, it's crucial to note that while the proposed reclassification may lessen the severity of penalties associated with marijuana use, it does not equate to outright legalization for recreational purposes. The shift in classification would likely result in revised sentencing guidelines and potentially open avenues for expanded medical research into cannabis-derived treatments. The proposal is now in the hands of the White House Office of Management and Budget for review and the finalization of the rule-making process. Despite the positive reception from cannabis advocates and investors, the DEA has yet to officially comment on the recommendation. The Biden administration's move reflects a growing shift in public attitudes towards marijuana, with an increasing number of states legalizing its recreational or medicinal use. By reevaluating federal cannabis policies, the administration aims to align with evolving societal norms and address longstanding disparities in drug enforcement practices. Critics argue that the proposed reclassification does not go far enough in addressing broader issues related to drug policy reform, such as racial disparities in marijuana-related arrests and convictions. Nevertheless, proponents view it as a crucial step towards a more rational and equitable approach to cannabis regulation. Technical Outlook Canopy Growth Corporation ( NASDAQ:CGC ) stock is up 62% as a result of the Biden Administration policy on cannabis taking the stock to an overbought region with a Relative Strength Index (RSI) of 73. Further accentuating to the bullish trend is the long "Bullish Harami" candle stick pattern depicted on the daily price chart.
NASDAQ:CGCLong
by DEXWireNews
1
Canopy Growth - First Bullish Push Already Melting FacesHello Guys, to me it looks like canopy has succesfully entered the first 5 wave bigger push to the upside. This Elliot Wave count of mine can be an indication to where the market is likely to go in the immediate short term. Obviously no financial advise. I also See a scenario possible where the market is going to trend a bit higher to then consolidate for a long time (until September or so) This is my secondary scenario. Primary I see us reaching high prices between 30-40$. Regards Mr Mo Money
NASDAQ:CGCLong
by MrMoMoney
1
Canopy Growth Rise Coming Next - Elliot Wave 2. finishedHello guys, according to my Elliot wave count, we could already now have seen the end of the bigger wave 2 which is essential to correct our 5 wave impulse in wave 1. The structure that we have seen in this correction looks like a ABC correction to me with an overshooting B Wave. This means that the C wave is right now finishing and we should sooner than later start the next 5 wave impulse in wave 3 to the upside. So next to come is bullish.
NASDAQ:CGCLong
by MrMoMoney
1
CGC trade from bounce at fib level LONGCGC fell in a standard Fibonacci retracement of 3 week trend up from Mid-March. News of an application to issue a new class of shares may as well be considered a dilution of current shareholders. CGC is 5 days away from National MJ Day of the 20th. I expect a further pullback into the 0.618 level given the fundamental news but CGC could rally on trader interest regarding the notable day. My trade plan is to buy a pullback if and whne it finds support at 6.15 and then enter long seeking the target of 7.95 which would be a Fib 0.5 retracement of the trend down. I will look at other MJ stocks as well.
NASDAQ:CGCLong
by AwesomeAvani
4
(CGC) Daily Bull Bat - Type1.5 entryI have plotted a large Bull Bat pattern that merely yielded a natural harmonic reaction. News of a reverse split and a dilution deal with the enemy have caused the move to new all-time lows. Despite this, the large Bull Bat pattern is still in play. Note the Bull Shark(blue), Bull 0.618AB=CD(pink) and Bull AB=CD(teal). The natural levels found within each distinct pattern are collectively pointing towards $2.85 as a sort of maximal pattern excursion level; price ought to hold here. Note the 'not steeply inclined' downtrend line beginning on Feb. 16. and buy the breakout if price continues to hold near the $2.85 level leading into the breakout. I have plotted four price targets in thick green line. The dashed line is the .382 retracement from current high to low and the others are harmonic pattern targets.
NASDAQ:CGCLong
by moleman340
7
High Hopes: Riding the Green WaveAfter a long and exhausting bear market, cannabis stocks are back in investors' focus. Stocks like Canopy Growth are booming. A gold rush atmosphere is emerging, reminiscent of the early years of Bitcoin and other cryptocurrencies. Are we seeing perpetual green candles or rather dense, stifling fog? As always in trading, it's about controlling risk. And here, we see an almost insane potential with Canopy Growth. However, we recommend waiting for a temporary pullback to enter the market at around $8.11. This long-term trading idea offers an almost ludicrous risk-reward ratio of about 59:1. The price target seems very ambitious. Please note that this is a logarithmic representation. The seemingly absurd price target is put into perspective when considering that it's only the 38% retracement since the all-time high.
TSX:WEEDLong
by Ochlokrat
Germany Greenlights Recreational Cannabis, But With CaveatsGermany's Federal Council has given the green light to a bill legalizing recreational cannabis for personal use, marking a significant shift in drug policy within the European nation. Despite facing criticism and opposition, the legislation, passed by the Bundestag earlier, paves the way for individuals to possess and cultivate cannabis starting April 1, albeit with certain restrictions. While the approval signals a milestone in Germany's approach to cannabis regulation, the journey towards legalization has been far from smooth. Several federal states voiced dissent, with only a handful advocating for a renegotiation of the law. Ultimately, the absence of a majority for an appeal to the mediation committee cleared the path for implementation. Health Minister Karl Lauterbach, a key proponent of the law, emphasized its potential to safeguard the younger generation by curbing consumption and dismantling the black market. The legislation, coupled with increased funding for addiction prevention measures, underscores the government's commitment to public health and education. Under the new law, adults aged 18 and over will be permitted to possess up to 25 grams of cannabis and cultivate up to three plants for personal use. However, strict regulations prohibit smoking in public spaces, including schools and sports facilities, ensuring responsible consumption. Moreover, the legislation introduces the concept of cannabis social clubs, enabling up to 500 members to collectively cultivate and exchange cannabis within defined limits. This initiative aims to foster community engagement while providing a framework for responsible cannabis use. Looking ahead, the government plans to evaluate the law's impact on youth protection within 18 months of implementation. Additionally, discussions are underway to explore the controlled sale of cannabis through pilot programs, mirroring successful initiatives in neighboring countries like Switzerland and the Netherlands.
NASDAQ:CGC
by DEXWireNews
Canopy Growth Poised for German Cannabis Market BoomIn a groundbreaking development for the global cannabis industry, Germany's decision to legalize cannabis marks a significant turning point, paving the way for increased access and growth opportunities. Canopy Growth Corporation (Nasdaq: NASDAQ:CGC ), a leading player in the cannabis sector, stands poised to capitalize on this historic moment, positioning itself for accelerated expansion and market dominance. Germany's Cannabis Legalization: A Game-Changer The German government's approval to recognize cannabis as a non-narcotic represents a monumental shift in policy, signaling broader acceptance and normalization of cannabis consumption. Effective April 1, 2024, adult consumers in Germany will be able to legally access cannabis products without fear of prosecution, a move applauded by industry stakeholders and advocates alike. Canopy Growth's Strategic Advantage For Canopy Growth ( NASDAQ:CGC ), the legalization of cannabis in Germany presents a unique opportunity to bolster its commercial presence and solidify its position as a key player in the German market. Leveraging its diversified portfolio, including the renowned Storz & Bickel vaporizer brand and Canopy Medical's medical cannabis offerings, the company is poised to capture significant market share and drive revenue growth. Storz & Bickel: Leading the Vaporizer Revolution With the legalization of recreational cannabis, Storz & Bickel stands to benefit from increased demand for its premium vaporizer products. As one of the most respected brands in the industry, Storz & Bickel is well-positioned to capitalize on the burgeoning German market, offering consumers the highest quality vaporization devices backed by years of expertise and innovation. Canopy Medical: Meeting Patient Needs For Canopy Medical, Germany's reclassification of cannabis as a non-narcotic represents a major breakthrough in patient access to medical cannabis. With the potential for more patients to explore cannabis as a treatment option, Canopy Growth is committed to delivering high-quality products that meet the diverse needs of patients while driving awareness and education within the medical community. Driving Awareness and Collaboration Beyond product offerings, Canopy Growth ( NASDAQ:CGC ) is dedicated to driving awareness and fostering collaboration within the medical community through educational initiatives and partnerships. By engaging with physicians and patients, the company aims to promote the therapeutic benefits of cannabis and establish itself as a trusted provider of medical cannabis solutions.
NASDAQ:CGCLong
by DEXWireNews
"Canopy Growth Corporation Faces Critical Support Test"Canopy Growth Corporation: Navigating Market Challenges and Strategic Goals Canopy Growth Corporation, a prominent player in the cannabis industry, has been a focal point for investors seeking exposure to the rapidly expanding market for legal marijuana products. As one of the largest cannabis producers globally, Canopy Growth has garnered attention for its ambitious goals and strategic initiatives aimed at capitalizing on the burgeoning demand for cannabis-related products. Founded in 2013, Canopy Growth has quickly risen to prominence, establishing itself as a leader in the cannabis industry through a combination of strategic acquisitions, innovative product development, and global expansion efforts. The company's primary focus is on cultivating, producing, and distributing a diverse range of cannabis products, including dried flower, oils, edibles, and beverages. In recent years, Canopy Growth has achieved several notable milestones, reflecting its commitment to growth and innovation. These achievements include expanding its production capacity, securing distribution agreements with leading retailers, and launching new product lines to meet evolving consumer preferences. However, despite its successes, Canopy Growth has faced challenges in navigating the volatile cannabis market, particularly in the wake of a prolonged distribution bear market that has persisted for the past five years. The company's stock price has experienced significant fluctuations, reflecting the uncertainty surrounding regulatory environments, shifting consumer trends, and competitive pressures within the industry. Recently, Canopy Growth's stock price experienced a sharp retracement, testing critical support levels around $18 per share. With the stock now poised to retest its previous lows at $4 per share, investors are closely monitoring the situation for signs of a potential breakout or breakdown. The recent spike in volume accompanying the bounce from support suggests heightened volatility and the potential for significant price movements in the near term. Bears may attempt to crack support levels, with the possibility of a further downward spiral if volume flows through aggressively enough. In such a scenario, the stock could potentially retest long-term downward support levels around $2 per share. On the other hand, if Canopy Growth manages to break out of its current pennant pattern, investors may view this as an opportunity to enter a position targeting the top of long-term resistance levels. A successful breakout could pave the way for renewed upward momentum, offering potential upside for savvy traders. In conclusion, Canopy Growth Corporation continues to navigate challenges in the cannabis market while pursuing strategic goals aimed at driving long-term growth and profitability. As the company grapples with support levels and potential breakout opportunities, investors should remain vigilant and adaptable, prepared to capitalize on emerging trends and developments in this dynamic industry.
NASDAQ:CGC
by UnknownUnicorn2319099
3