- Canopy is also trading higher on Monday, Sep. 11. Find out why, here.
Canopy Growth Corporation CGC shares are trading lower on Thursday. The stock appears to be pulling back after gaining more than 75% over the last five days.
What To Know:
The broader cannibis sector had been moving on upward momentum following a report fom Bloomberg last Thursday that Adm. Rachel Levine, the assistant secretary at Department of Health and Human Services (HHS) sent a letter to DEA Administrator, Anne Milgram, recommending that marijuana be rescheduled to a Schedule III substance.
Shares of CGC are moving lower Thursday on above-average trading volume. According to Benzinga Pro, more than 33.3 million shares have been traded in the session, compared to the stock's 100-day average of 34.456 million shares.
Related News: Why Tesla Stock Is Moving Higher
CGC Price Action: According to Benzinga Pro, Canopy Growth shares are down over 11% at 71 cents at the time of publication.
Image: GDJ from Pixabay
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Cannabis is evolving – don’t get left behind!
Curious about what’s next for the industry and how to leverage California’s unique market?
Join top executives, policymakers, and investors at the Benzinga Cannabis Market Spotlight in Anaheim, CA, at the House of Blues on November 12. Dive deep into the latest strategies, investment trends, and brand insights that are shaping the future of cannabis!
Get your tickets now to secure your spot and avoid last-minute price hikes.