In addition, Canopy Growth took a $32.7 million hit from product returns and pricing changes linked to the sales of its oil and soft-gel capsules. Canopy Growth still has strong financial support from Constellation Brands, plus an excellent, innovative product portfolio. If Shares of Wynn Resorts Fall Under This Level, Expect a Breakdown, 4 Tech Stocks DEFYING the NASDAQ’s Weakness. A company's financial statements are a significant factor weighted by experts when analyzing a company's health. Canopy Growth’s CEO Mark Zekulin blamed the Canadian government for some of their issues. To use a metaphor to explain how I’m thinking about the current situation that Canopy Growth and other Canadian cannabis companies, imagine there is a blockage in a garden hose. experts mostly recommend to sell the stock. Be very careful in this space. He would not touch any of the cannabis stocks. Other recent analyst commentary on CGC stock flew mostly under the radar. More recently, Piper Jaffray analyst Michael Lavery followed Carey’s downgrade by reiterating his “overweight” rating for CGC stock on Sept. 30. View analyst ratings for Canopy Growth. Privacy Policy | Terms & Conditions | Contact Us. shares slid 15% the day of earnings to fresh 52-week lows. Yet, on the conference call for this past quarter, Canopy Growth’s CFO Mike Lee said to analysts that the soft gels “issue” was “fully behind” the company. Compared to everything else, it hasn't fallen greatly. 4 analysts A weed company that’s partnered with Constellation Brands is … That sure doesn’t seem like a call to go out and dump a stock that is trading 50% below his price target. He thinks the cannabis business is going to be one of the fastest growing over the next decade. ← This Cannabis Stock Gained, While Most Sank Last Week, Why Aurora Cannabis, Canopy Growth, and HEXO Shares Are Jumping Today →. All eyes were on Ontario, Canada-based cannabis company Canopy Growth's (NYSE:CGC) fourth-quarter fiscal 2020 results -- especially after Aurora Cannabis (NYSE:ACB) raised the stakes with impressive revenue growth in its third quarter. Governance has been terrible with Canopy with the CEO fired. CGC stock is now down more than 54% overall in the past year. Save my name, email, and website in this browser for the next time I comment. He doesn't touch this sector--too uncertain. If you're only down 10-15%, that's not so egregious, but there will be some tax loss selling into the end of the year. Unlikely that Constellation Brands will put more money in right now, but they will try to exert more influence. Canopy Growth closed on Friday at $16.63 (-5.08%) prior to reporting financial results at; Canaccord Genuity published a hold rating for Canopy Growth on Thursday, forecasting $21.00 There will be a huge consolidation ahead.