Canopy Growth rises
In the early morning session on January 10, Canopy Growth (CGC)(WEED) had risen 3.3% as of 10:00 AM EST. The company got a boost from Constellation Brands, which announced its quarterly earnings yesterday on January 9. Constellation Brands estimated that Canopy Growth would reach a sales target of nearly one billion Canadian dollars in the next 18 months. To learn what more Constellation Brands said about Canopy Growth, read Canopy Growth: Notes from Constellation Brands’ Earnings.
Tilray (TLRY) was also moving higher this morning with a gain of nearly 5% at around 10:00 AM EST. Tilray recently got another investment form Piper Jaffray’s coverage, which somewhat increased investors’ confidence in the stock.
In other news, Aphria (APHA) will be releasing its second-quarter earnings tomorrow before the market opens. To know what to expect in its earnings, read our series Aphria’s Earnings: Analysts’ Expectations Next Week.
Cronos Group (CRON), another major stock (HMMJ), was up 1%, while Aurora Cannabis (ACB) was trading higher by 3.5% in the early morning session.