What's Going On With Canopy Growth Corporation Stock?

Canopy Growth Corporation CGC shares are trading higher Tuesday, though the stock remains down by 34% over the last month. 

What To Know:

Canopy Growth shares are moving higher Tuesday as the stock appears to be recovering from a loss of more than 20% last week. 

On Oct. 11, the company announced that it received EU GMP certification for its cannabis cultivation facility in Kincardine, Ontario allowing the company to continue exporting certified medical cannabis to medical markets in Europe and around the world. 

Canopy Growth, headquartered in Smiths Falls, Canada, cultivates and sells medicinal and recreational cannabis through a portfolio of brands that include Doja, 7ACRES, Tweed, and Deep Space. Its non-THC products include sports drink BioSteel, skincare products under This Works, Martha Stewart CBD, and Storz & Bickel vaporizers.

According to the company, Canopy Growth is attempting to merge its U.S. assets into a separately operated holding company, Canopy USA.

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CGC Price Action: According to Benzinga Pro, Canopy Growth Corporation shares are up more than 10% at 56 cents at the time of publication.

Image: Satheesh Sankaran from Pixabay