17:22:41 EDT Sat 27 Apr 2024
Enter Symbol
or Name
USA
CA



Aurora Cannabis Inc (2)
Symbol ACB
Shares Issued 376,817,843
Close 2023-07-28 C$ 0.71
Market Cap C$ 267,540,669
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Globe says penny stocks like Canopy worth another look

2023-07-31 07:33 ET - In the News

See In the News (C-WEED) Canopy Growth Corp

The Globe and Mail reports in its Saturday edition that Canopy Growth and Aurora Cannabis slid into penny-stock territory earlier this year. The Globe's David Berman writes that last week's rally by Tilray Brands, however, suggests that interest in the marijuana sector is alive. Tilray shares are up 80 cents on the week, closing Friday at $3.02. The shares rallied after Tilray delivered upbeat quarterly financial results. Mr. Berman says the bullish hope is that the company has emerged as Canada's leading marijuana producer, with promising revenue growth and improving free cash flow, at a time when the outlook for the sector is hardly primed on exponential growth. He says the good news is that intrepid investors can make a persuasive case that the marijuana sector has made the journey from bubbly heights in 2018, when euphoria greeted legalization in Canada and there were hopes for speedy legalization in the United States, to capitulation lows in 2023 amid persistent losses and disappointing growth. For investors who like unpopular stocks, like Canopy and others, these setbacks can be good news. Weed stocks are down leaving little downside risk and a lot of upside potential should a sustained rebound kick in.

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