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Canopy Growth Corporation - CGC STOCK NEWS

Welcome to our dedicated news page for Canopy Growth Corporation (Ticker: CGC), a resource for investors and traders seeking the latest updates and insights on Canopy Growth Corporation.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Canopy Growth Corporation's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Canopy Growth Corporation's position in the market.

News
Canopy Growth Announces US$30 Million Private Placement
Rhea-AI Summary
Canopy Growth Corporation (TSX: WEED) (Nasdaq: CGC) announced a private placement offering of 6,993,007 units at a price per unit of US$4.29 for aggregate gross proceeds of approximately US$30,000,000. The purpose of the offering is to provide the company with additional liquidity to strengthen its financial position, pay down debt, and for working capital and general corporate purposes.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.73%
Tags
none
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News
Canopy Growth Announces Completed Sale of This Works
Rhea-AI Summary
Canopy Growth Corporation (WEED) completes divestiture of This Works skincare and wellness brand to Inspirit Capital, a London-based investment firm, for up to £9.3MM ($15.9MM CAD) including cash. The transaction includes an upfront consideration of £2.7MM ($4.6MM CAD) in cash and a contingent earn-out. Canopy Growth's CEO, David Klein, emphasizes the company's focus on North American cannabis market leadership and the sale's contribution to transforming Canopy Growth into a simplified, asset-light, cannabis-focused business.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.88%
Tags
none
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News
Canopy Growth Announces Effective Date of Share Consolidation
Rhea-AI Summary
Canopy Growth Corporation (TSX: WEED) (Nasdaq: CGC) has announced the approval of a 1 for 10 share consolidation to regain compliance with Nasdaq's minimum bid price requirement. The consolidation is expected to become effective on December 15, 2023, with post-consolidation shares trading on the TSX and Nasdaq starting December 20, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-20.44%
Tags
none
News
Canopy Growth Announces Completed Sale of BioSteel Business
Rhea-AI Summary
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) completes the sale of BioSteel Canada and BioSteel Manufacturing, LLC assets, generating $30.4 million in proceeds. The sales aim to strengthen the company's balance sheet and focus on core cannabis operations.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
10.36%
Tags
none
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News
Martha Stewart CBD Debuts New Need-Based Gummies Targeting Sleep, Stress, and Discomfort
Rhea-AI Summary
Martha Stewart CBD, in partnership with Marquee Brands and Canopy Growth Corporation, has unveiled a new line of need-based CBD gummies, broadening the brand's evolving wellness assortment. The new line includes Sleep CBD, Chill CBD, and Extra Strength CBD Gummies, formulated with higher levels of CBD and powerful co-active ingredients. The products aim to address common needs such as sleep, stress, and discomfort, offering convenient, plant-based solutions for consumers. The partnership combines Martha Stewart's elevated flavor profiles with Canopy Growth's unique consumer insights and continuous industry innovation, providing delicious, effective, and tailored new offerings at an affordable price.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.7%
Tags
none
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News
Canopy Growth Announces that BioSteel Obtains Court Approval of Successful Bids in Sale and Investment Solicitation Process
Rhea-AI Summary
Canopy Growth Corporation (WEED, CGC) received court approval for the sale of all or substantially all assets of BioSteel Canada and BioSteel Manufacturing, eliminating funding obligations and improving the company's balance sheet. The transactions are expected to result in significant financial gains for Canopy Growth, aligning with the company's focus on cannabis and a simplified operating model.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.58%
Tags
none
News
Canopy Growth Reports Second Quarter Fiscal Year 2024 Financial Results
Rhea-AI Summary
Canopy Growth Corporation (WEED/CGC) announces significant improvement in gross margins and reduced cash burn in Q2 FY2024. Management reaffirms expectation to achieve positive Adjusted EBITDA in all business units exiting FY2024. Highlights include Q2 FY2024 net revenue of $70 MM, consolidated gross margin of 34%, $54 MM cost reduction, and $155 MM gross proceeds from facilities sales. The company reduced overall debt by $364 MM to $681 MM in Q2 FY2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.38%
Tags
earnings
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News
Canopy Growth to Report Second Quarter Fiscal 2024 Financial Results on November 9, 2023
Rhea-AI Summary
Canopy Growth Corporation to release financial results for Q2 FY 2024 on November 9, 2023
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.54%
Tags
conferences earnings
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News
STORZ & BICKEL Unveils the VENTY, an Innovative New Portable Vaporizer
Rhea-AI Summary
STORZ & BICKEL announces the launch of VENTY, a state-of-the-art portable vaporizer for dry herbs
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1%
Tags
none
News
Canopy Growth Announces EU GMP Certification of Kincardine Cultivation Facility
Rhea-AI Summary
Canopy Growth receives EU GMP certification for its cannabis cultivation facility in Kincardine, Ontario, enabling the company to continue exporting medical cannabis to global markets.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.42%
Tags
none
Stock CGC logo
Canopy Growth Corporation

Nasdaq:CGC

CGC Rankings

#2587 Ranked by Market Cap
#5420 Ranked by Stock Gains
N/A Ranked by Dividends

CGC Stock Data

712.24M
73.87M
19.04%
4.85%
12.62%
Medicinal and Botanical Manufacturing
Manufacturing
Link
Canada
Smiths Falls

About CGC

canopy growth corporation is a world-leading diversified cannabis company. we operate a collection of diverse brands and curated strain variety, supported millions of square feet of indoor greenhouse production capacity, partnered with some of the leading names in the sector. here's to future growth.