Get started
Canopy Growth CorporationCanopy Growth CorporationCanopy Growth Corporation

Canopy Growth Corporation

No trades
See on Supercharts
Overview Financials News
Ideas
Discussions Technicals Forecast Seasonals Options Bonds

CGC trade ideas

CGC: Watching For A Bullish MoveCGC: Watching For A Bullish Move CGC / Canopy Growth Corporation (Cannabis) The cannabis sector didn't perform well during the last two years. However, it is worth taking the chances when we see good trading opportunities despite the bad performance it is showing for mid-term trading. From the chart, we can see that the price rose several times from the same area where it is now. CGC reached the lowest price during the summer of 2023 near $3.65. From this zone the price bounced several times and the moves were good and created in a short period. These moves have a minimum boost of +70%. You may find more details in the chart! Thank you and Good Luck!
NASDAQ:CGCLong
by KlejdiCuni
2
CGC (cannabis stocks 🔥) "Looks bearish ATH"cannabis stocks in 2024 have been showing remarkable potential and resilience, reflecting a burgeoning industry with promising prospects. The landscape continues to evolve, presenting exciting opportunities for growth and innovation. With increasing legalization, expanding markets, and advancing technology, the future looks incredibly bright for those investing in cannabis. It's a dynamic sector with significant room for growth, making it an inspiring space to be a part of.
NASDAQ:CGCLong
by TrojanBible
CGC 🆕Investing in cannabis stocks has been a rollercoaster ride, with fluctuating values due to legal, regulatory, and market factors. Despite volatility, the future looks promising as legalization continues in various regions. Motivation lies in the potential growth as the industry matures and gains wider acceptance, leading to increased market opportunities and potential profits for savvy investors. Understanding the landscape, staying informed about legislative changes, and diversifying your portfolio can help navigate the uncertainties and maximize the potential of cannabis stocks in the long run
NASDAQ:CGCLong
by TrojanBible
CGC (Cannabis stock )Investing in cannabis stocks has been a rollercoaster ride, with fluctuating values due to legal, regulatory, and market factors. Despite volatility, the future looks promising as legalization continues in various regions. Motivation lies in the potential growth as the industry matures and gains wider acceptance, leading to increased market opportunities and potential profits for savvy investors. Understanding the landscape, staying informed about legislative changes, and diversifying your portfolio can help navigate the uncertainties and maximize the potential of cannabis stocks in the long run
NASDAQ:CGCLong
by TrojanBible
Canopy Growth Announces Effective Date of Share Consolidation Canopy Growth Corporation (NASDAQ:CGC) announced on Wednesday that its board of directors has approved the consolidation of its issued and outstanding common shares based on one post-consolidation common share for every ten pre-consolidation common shares. The consolidation, which was previously approved by shareholders at their annual general and special meeting on Sept. 25, is being implemented to ensure that the company continues to comply with the listing requirements of the Nasdaq Global Select Market, the Ontario-based company said in a press release. Now, the consolidation is subject to approval by the Toronto Stock Exchange (TSX) and is expected to become effective on Friday, Dec.15, with the post-consolidation common shares commencing trading on the TSX and the Nasdaq at market open on Wednesday, Dec. 20, subject to final confirmation from the TSX and the Nasdaq. Technical Analysis NASDAQ:CGC stock may face resistance at the 50-day moving average of $0.6092 and support at the recent low of $0.545. Waiting for a confirmation of a trend reversal before entering or exiting the market would be very crucial.
NASDAQ:CGCLong
by DEXWireNews
Weed Rescheduling Trading StrategyHello friends. I made a good profit from the initial announcement that weed stocks would be rescheduled because I foresaw a news event like that occuring and purchased a position in weed stocks before anything happened. Then I sold near the top, since the trade has become crowded, and now I am waiting for a good entry point again. I think that another big opportunity is coming soon, but we will have to be patient. Here is how this works: The HHS has recommended for the DEA to reschedule cannabis from a Schedule 1 substance to a Schedule 3 substance. This would have some benefits for the weed indudstry, but most importantly, it creates euphoria for traders, who rush in to buy up the stocks. And here is an interesting question to consider: Which weed stock are largely uneducated retail traders who have just learned about this news and want to ape into the trade late most likely to buy? Well, probably the one with the ticker: WEED. Purely because of the ticker, they will discover this stock in far greater numbers. This is an important concept to remember. To see another example of tickers being extremely important, look at the ticker AI, which was one of the best performers during the AI bubble that occured this year. We were able to predict the parabolic rise of the AI ticker, purely based on the fact that a bubble was forming combined with the fact that this ticker would likely be at the center of it, due to mass discovery from retail traders searching "AI" and seeing this ticker pop up first. We can see how this theory worked in practice, since while most stocks only rose 50-100%, WEED rose an incredible nearly 400%. So, when will the DEA make their announcement, which will be extremely likely to send this stock rocketing along with all other cannabis-related stocks? Well, it will likely occur within 90 days of the initial recommendation, but there is no guarantee. Government agencies are incompetent, slow, and stupid. As a result, we can't expect a reliable timeline from the DEA. What we can strongly rely on though, is that they will follow the HHS recommendation and reschedule, since this is what they always seem to do. The best strategy is to go ahead and wait this out for the next month at least, and then when the time is drawing nearer, start to average into a position on weed stocks. Over time their prices will likely continue to slowly fall, as retail idiots who bought into the peak of the weed trade eat their losses. As I have explained, my top pick is WEED, but literally anything in the cannabis industry should be expected to rally. When the news event occurs, weed stocks will likely rally sharply for a couple of days, and then the rally will be over, and they will start to fall again. We should hope to exit before they fall over, by keeping an eye on how publicized the news is so far. If everyone has already heard about it, it's over, and it's time to sell.
TSX:WEEDLong
by bowtrix
4
CANOPY MADNESS TARGET 1.65 Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NASDAQ: CGC) today announced that it has ceased funding BioSteel Sports Nutrition Inc. ("BioSteel") and that BioSteel has commenced proceedings under the Companies' Creditors Arrangement Act (the "CCAA") in the Ontario Superior Court of Justice (Commercial List) ("CCAA Court") and will seek recognition of that proceeding under Chapter 15 of the United States Bankruptcy Code to give full force and effect to the orders made in the CCAA proceeding in the United States, including a stay of proceedings. As part of its efforts to simplify its business and reduce cash burn, Canopy Growth previously announced that it was reviewing strategic options for the Company's BioSteel business unit, including a potential sale of the business unit. BioSteel's business was a significant drag on Canopy Growth's profitability and cash flow, representing approximately 60% of the Company's Q1 FY2024 Adjusted EBITDA loss. The decision by BioSteel to seek creditor protection means that Canopy Growth will limit the further funding obligations in respect of the BioSteel business unit, which is consistent with Canopy Growth's transformation to a simplified, asset-light operating model and focus on its core cannabis operations. Canopy Growth's financial position is expected to be further strengthened through the immediate removal of the cash expenditures associated with funding the BioSteel business unit and the potential cash proceeds from the orderly sale of BioSteel's assets. Further, the Company anticipates the removal of the previously identified material weakness related to the BioSteel business segment upon disposition. In addition, with BioSteel's operating loss and cash burn eliminated, Canopy Growth reiterates its expectation to achieve positive Adjusted EBITDA across its remaining business units exiting FY2024.
NASDAQ:CGCLong
by KalaGhazii
Didn't see that coming.. | Was there any clues I left unnoticed?NASDAQ:CGC - REKKKT This is not supposed to happen before factor X (luck?). IMO I think I did with the analyzing solid job. Please, no matter how small thing it might be. Let me know in the comments to improve I'll walk you through my thoughts: The Canopy Growth Corporation hit it's bottom on Fri 07/14/23. It fired up those Dank fueled rockets to head outer space with +350% gains. I started to see exhaustion after the first pullback. After this the chart doesn't show the same momentum and there's some divergence that will be reappearing theme the following days. You start to see decline as one would expect after this kind of run. My interpretation is that according to price action, it's starting to form a descending channel pattern. When the double top formed I was convinced the following day would come down crashing. This happened instead. Can I blame bad luck or was there other factors that needed to be addressed? Just like in the game of poker you will run into situations where you lose to one outer on the river. Please leave a comment and let me know what is your point of view. Thanks! I salute you all🫡
NASDAQ:CGCShort
by Crack_Daddy
CGC: Flying high! Will reality hit soon?CGC chart literally looked like a waterfall since it broke $1 support back in February. But, since Aug 29 after the US health department recommendation the stock along with all MJ tickers just shot up to the moon. But, here is my issue with the chart pattern: the move up from July 17 to July 30 is 3 waves. That makes me think this current price action is a corrective C wave of a higher degree wave 4. This idea would be invalidated if price goes above $2.16; the bottom of wave 1 of C of this downtrend. I am still thinking a lot of traders will get caught on this fomo while price will make a final wave 5 low. Need to keep an eye on RSI on daily and weekly to get a bullish divergence; lower low in price and higher low in RSI. Right now I am short since $1.5 with stop loss on the latest high $1.92. If things go right, target would be $0.18. If I am wrong about this and this pump is real investment, then I will get stopped out and wait for wave 5 to complete followed by a 3 waves down. At that point might consider tying up some capital for a long wave 3 move with some insane potential. Might outshine crypto gains in the next 10 years....for now, one step at a time...
NASDAQ:CGCShort
by mukit1