Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Canopy Growth Corporation shares valued at $9,875 were sold by Kruh Willy on Sep 30 ’24. At $4.95 per share, Kruh Willy sold 1,995 shares. The insider’s holdings dropped to 13,288 shares worth approximately $49962.88 following the completion of this transaction.
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Also, Yanofsky Theresa sold 1,987 shares, netting a total of over 9,836 in proceeds. Following the sale of shares at $4.95 each, the insider now holds 24,199 shares.
Before that, Mongeau Luc had sold 1,995 shares from its account. In a trade valued at $9,875, the Director traded Canopy Growth Corporation shares for $4.95 each. Upon closing the transaction, the insider’s holdings decreased to 1,995 shares, worth approximately $49936.56.
As published in a research note from Bernstein on April 04, 2023, Canopy Growth Corporation [CGC] has been rated up from an Underperform to a Mkt perform. Analysts at Bernstein started covering the stock with ‘”an Underperform”‘ outlook in a report released in early November. As of October 26, 2022, Canaccord Genuity has increased its “Sell” rating to a “Hold” for CGC. Earlier on June 08, 2022, BMO Capital Markets downgraded its rating. Their new recommendation was “an Underperform” for CGC stock which previously was a “a Market perform”.
Analyzing CGC Stock Performance
During the last five days, there has been a drop of approximately -4.57%. Over the course of the year, Canopy Growth Corporation shares have dropped approximately -26.42%. Shares of the company reached a 52-week high of $14.92 on 04/30/24 and a 52-week low of $2.76 on 03/14/24. A 50-day SMA is recorded $4.50, while a 200-day SMA reached $6.20. Nevertheless, trading volume fell to 2.92 million shares from 3.24 million shares the previous day.
Support And Resistance Levels for Canopy Growth Corporation (CGC)
According to the 24-hour chart, there is a support level at 3.72, which, if violated, would cause prices to drop to 3.69. In the upper region, resistance lies at 3.82. The next price resistance is at 3.89. RSI (Relative Strength Index) is 37.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.49, which suggests the price will decrease in the coming days. Percent R is at 94.01%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
