Canopy Growth Corporation (NASDAQ:CGC) shares are trading higher Tuesday, though the stock remains down by nearly 8% over the last five days. Here’s a look at what’s going on:
What To Know:
Canopy Growth shares are up more than 9% on Tuesday despite a lack of company-specific news. The stock may be attempting to recover after it has fallen 8% in the last five days and more than 25% over the last month.
Canopy Growth Corporation is set to release its second-quarter financial results after the market close on Nov. 9. According to estimates from Benzinga Pro, the company is expected to report a loss of 15 cents per share and estimated quarterly revenue of $92.3 million.
On Oct. 11, the company announced that it received EU GMP certification for its cannabis cultivation facility in Kincardine, Ontario allowing the company to continue exporting certified medical cannabis to medical markets in Europe and around the world.
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CGC Price Action: According to Benzinga Pro, Canopy Growth shares are up more than 9% at 57 cents at the time of publication.
Image: M. from Pixabay
