CNBC’s Jim Cramer says Canadian pot stock Canopy Growth (CGC) is a buy

: CGC | Canopy Growth Corporation  News, Ratings, and Charts

CGC – Jim Cramer is dropping his previous caution and telling investors to buy Canopy.

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!

Canopy Growth, Corp (NYSE:CGC) is at a perfect time for purchase, according to CNBC’s Jim Cramer.

Cramer said the stock is done going done after last week’s high, asserting that is “time to buy.” Cramer previously warned it was too early to buy the stock as recently as last Wednesday, the day Canada legalized recreational marijuana usage.

CNBC provides details:

With this latest investment and execution of some warrants, Constellation saidits stake in Canopy will become 38 percent. The Corona and Modelo maker also received an opportunity over the next three years to buy up to 139.7 million in new Canopy shares, which represents up to $5 billion in additional funding. If Constellation utilizes those warrants, it could raise its total stake in Canopy to more than 50 percent.

Canopy has gained more than 400% in the last twelve months as Wall Street shows extreme enthusiasm over the new recreational marijuana industry.

Canopy Growth, Corp shares fell $0.05 (-0.11%) in after-hours trading Friday. Year-to-date, Canopy Growth Corporation (CGC - Get Rating) has gained 98.04%, versus a 4.87% rise in the benchmark S&P 500 index during the same period.

Canopy Growth Corporation (CGC - Get Rating) currently has a StockNews.com POWR Rating of B (Buy), and is ranked #16 of 201 stocks in the Medical – Pharmaceuticals category.

Get Free Updates

Join thousands of investors who get the latest news, insights and top rated picks from StockNews.com!

Top Stories on StockNews.com

NYSE: SPY | SPDR S&P 500 News, Ratings, and Charts

Does 1 Equation Hold the Key for Stock Prices?

At first I thought it was outrageous to believe this 1 equation is only that mattered for stock prices. Then I saw it happen plain as day in February 2016. Now I believe it will happen again.
NYSE: SPY | SPDR S&P 500 News, Ratings, and Charts

Trump Delays Chinese Tariffs, is He Just Postponing the Inevitable?

In this featured article, Trump's postponement of Chinese tariffs is examined. Could the President be postponing the inevitable? Continue reading for more details.
: sndl | Sundial Growers Inc. News, Ratings, and Charts

Why are cannabis stock investors focusing on Sundial Growers (SNDL)?

Sundial growers are one of the most recent IPOs within the cannabis sector.
: CGC | Canopy Growth Corporation  News, Ratings, and Charts

Why did Canopy Growth's (CGC) stock plunge 14% today?

Canopy Growth Corp. (CGC) disappointed Wall Street yesterday with an earnings report that showed the worst bottom-line performance in the company’s history.
: TLRY | Tilray, Inc. - Class 2  News, Ratings, and Charts

The Aftermath of Tilray’s Quarterly Earnings Report

Tilray reported earnings on Tuesday after the close and the stock sank in after-hours.

Read More Stories


More Canopy Growth Corporation (CGC) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All CGC News
Page generated in 1.244 seconds.