What's Going On With Canopy Growth Shares?

Canopy Growth Corporation CGC shares are climbing higher Friday. The stock appears to be moving on continued upward momentum from the last five days.

What To Know:

On Thursday, Canopy Growth announced cannabis gummies from Wana Brands North are now available through Spectrum Therapeutics, Canopy Growth's medical cannabis division.

"The addition of Wana gummies to our medical store provides an immediate benefit to our Canadian business and further solidifies our North American house of brands. Over the coming months we look forward to growing Wana's market share across both the medical and adult-use markets in Canada", said David Klein, CEO of Canopy Growth.

Shares of CGC are up nearly 10% on Friday on above-average trading volume. According to data from Benzinga Pro, more than 20.8 million shares have been traded in the session, compared to the stock's 100-day average of 22.8 million shares.

Canopy Growth will release its first quarter fiscal year 2024 financial results on Aug. 9 and will host an audio webcast to discuss the results at 5:30 p.m. ET the same day.

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CGC Price Action: According to Benzinga Pro, Canopy Growth shares are trading 9.15% higher at 45 cents at the time of publication.

The Benzinga Cannabis Capital Conference, the place where deals get done, is returning to Chicago this Sept 27-28 for its 17th edition. Get your tickets today before prices increase and secure a spot at the epicenter of cannabis investment and branding.

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