Canopy Growth Co. (TSE:WEED) shot up 6.5% during mid-day trading on Friday . The company traded as high as C$18.01 and last traded at C$17.26. 8,988,996 shares were traded during trading, an increase of 242% from the average session volume of 2,628,388 shares. The stock had previously closed at C$18.46.
A number of research firms have issued reports on WEED. Canaccord Genuity upped their price target on shares of Canopy Growth from C$14.00 to C$17.00 and gave the company a “hold” rating in a report on Wednesday. Beacon Securities cut shares of Canopy Growth from a “buy” rating to a “hold” rating and set a C$16.50 price target for the company. in a report on Monday, November 13th. Finally, Eight Capital upped their price target on shares of Canopy Growth from C$12.00 to C$18.00 in a report on Wednesday, November 1st.
Canopy Growth Company Profile
Canopy Growth Corporation, through its subsidiaries, produces and sells medical marijuana in Canada. The company offers dried, oil, and softgel cannabis products. Canopy Growth Corporation also sells its products through online. The company was formerly known as Tweed Marijuana Inc and changed its name to Canopy Growth Corporation in September 2015.
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