tsla

CGC Higher on New Cannabis Beverage

The equity is up 20% for the quarter

Digital Content Manager
Jun 16, 2020 at 2:52 PM
facebook X logo linkedin


The shares of Canopy Growth Corp (NYSE: CGC) are up 4.2% to trade at $17.46 this afternoon, after the Canadian cannabis company launched Deep Space, a full-flavored cannabis beverage with 10 mg of active compound THC per can. The beverage is currently available for purchase on provincial e-commerce platforms and select retailers, such as Tweed and Tokyo Smoke. 

CGC has made an impressive comeback on the charts, nearly doubling from its mid-March, two-year low of $9. The equity was able to find support at the $16 mark last week, and is now sporting a healthy 20% lead for the quarter. 

Despite the positive price action, analysts are still hesitant toward CGC, with 12 of the 16 in coverage calling it a "hold" or worse and four considering it a "strong buy." In simpler terms, there looks to be plenty of room for a round of upgrades on CGC in the near future.

 

Short interest is building of late, up 15.3% in the past two reporting periods. The 45.8 million shares sold short represent roughly 21% of the stock's available float, and nearly six and a half times its average daily trading volume. 

 

Two High-Octane Trade Ideas. One Simple Goal: Intraday Profits.

Dynamite Day Trading Signals delivers two same-day options trades every week — powered by proprietary intraday analysis and 43+ years of trading expertise.

But this isn’t just another stream of alerts.

It’s a structured plan with clear entry and exit points – designed for traders who want to act fast, trade smart, and wrap up gains before the closing bell.

No guesswork. No overnight exposure – Just two well-researched setups per week — whether you prefer buying premium or selling it.

And the results speak for themselves: subscribers have locked in +245.8% total profit over the last six months (since inception!).

👉 Start your one-month trial now for just $10, and be ready for the next trade alert.