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Canopy Growth ( (TSE:WEED) ) has provided an update.
Canopy Growth has extended the proxy voting deadline for its upcoming annual general and special meeting to ensure a quorum is achieved. The extension aims to give shareholders more time to vote, as the company is close to reaching the required quorum for the meeting, which is crucial for transacting business.
The most recent analyst rating on (TSE:WEED) stock is a Hold with a C$2.00 price target. To see the full list of analyst forecasts on Canopy Growth stock, see the TSE:WEED Stock Forecast page.
Spark’s Take on TSE:WEED Stock
According to Spark, TipRanks’ AI Analyst, TSE:WEED is a Neutral.
Canopy Growth’s overall stock score reflects significant financial challenges, with ongoing losses and negative cash flows weighing heavily. While technical indicators and valuation suggest potential for recovery, profitability issues and market-specific challenges remain critical risks. Positive revenue growth and cost reductions provide some optimism for future improvements.
To see Spark’s full report on TSE:WEED stock, click here.
More about Canopy Growth
Canopy Growth is a leading cannabis company focused on improving lives through innovative cannabis products. It operates globally, serving medical cannabis patients in Canada, Europe, and Australia, and has a significant presence in the U.S. THC market through its interest in Canopy USA, LLC.
Average Trading Volume: 3,775,455
Technical Sentiment Signal: Sell
Current Market Cap: C$615.6M
For detailed information about WEED stock, go to TipRanks’ Stock Analysis page.