Will Canopy Growth Break $20 Next?
With Canopy Growth (CGC) breaking below $25, the next question is whether the stock will break below $20. The cannabis stock held above $20 back in 2018.
My guess for now is that the stock sees more weakness and does break below $20 by the end of September. Vote on whether you agree or disagree with this forecast.
Go to WhoTrades to vote.
Update August 26
The stock is back above $25, but the rebound was meniscal considering the $31 price target. Also, a $31 price target is very telling for a stock with a 52-week high near $60.
-Seaport Global's Brett Hundley upgraded Canopy Growth from Neutral to Buy and announced a new $31 price target.
Disclosure: No position