MENAFN – Investor Ideas is a top platform for investing insights, focusing on cannabis stocks like Canopy Growth Corporation (TSX: WEED, NASDAQ: CGC). Canopy is a leading cannabis company aiming to use cannabis for better living.
Canopy Growth is currently trending, with its stock priced at $6.99, up 16.14% today on over 3.4 million shares traded. The stock reached a high of $7.32. On the NASDAQ, it’s trading at $5.05, up 16.47% with over 11 million shares traded.
No specific news is driving this rise, but Tipranks noted a bullish trend with 33,944 call options traded—six times the expected amount. Earnings are expected on November 11th.
Last week, Canopy made a $100 million prepayment on its senior secured term loan, saving about $14 million in annual interest and enhancing its financial stability.
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