Canopy Growth (TSE:WEED) Stock Price Down 12.6% - Here's Why

Key Points

• Canopy Growth Corp's stock price fell by 12.6%, trading as low as C$2.00 during the day, with a total of 4.86 million shares changing hands, a significant increase in trading volume.
• The company's current market capitalization stands at C$617.74 million, with a notably high debt-to-equity ratio of 120.38 and a PE ratio of -0.47.
• Canopy Growth is involved in the cultivation and sale of medical cannabis in Canada, offering products under several brand names including Tweed and Spectrum Cannabis.

Canopy Growth Corp (TSE:WEED - )'s stock price traded down 12.6% on Friday . The company traded as low as C$2.00 and last traded at C$2.01. 4,860,073 shares changed hands during mid-day trading, an increase of 76% from the average session volume of 2,767,940 shares. The stock had previously closed at C$2.30.

Canopy Growth Trading Down 13.9%

The business's 50-day moving average is C$1.94 and its two-hundred day moving average is C$1.82. The company has a debt-to-equity ratio of 120.38, a quick ratio of 2.32 and a current ratio of 1.39. The stock has a market capitalization of C$617.74 million, a PE ratio of -0.47, a price-to-earnings-growth ratio of -0.01 and a beta of 2.63.

Canopy Growth Company Profile

Canopy Growth Corporation, together with its subsidiaries, engages in growing, possession, and sale of medical cannabis in Canada. Its products include dried flowers, oils and concentrates, softgel capsules, and hemps. The company offers its products under the Tweed, Black Label, Spectrum Cannabis, DNA Genetics, Leafs By Snoop, CraftGrow, and Foria brand names.

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