(MENAFN- Investor Ideas) Investorideas , a go-to platform for big investing ideas, including cannabis Stocks reports on trading for Canopy Growth Corporation (TSX: WEED ) (NASDAQ: CGC), a world-leading cannabis company dedicated to unleashing the power of cannabis to improve lives.
Canopy Growth is trending and the stock made the TSX top gainers list today, currently trading at $6.99, up 0.97, gaining 16.14% on volume of over 3.4 million as of this report. The stock had a day's high of 32 stock is trading at $5.05, up 0.71, gaining 16.47% on the nasdaq on volume of over 11 Million shares.
There is no news today driving this big move, but Tipranks reported , "Bullish option flow detected in Canopy Growth (CGC) with 33,944 calls trading, 6x expected, and implied vol increasing over 27 points to 147.38%. 10/25 weekly 5 calls and 10/25 weekly 5.5 calls are the most active options, with total volume in those strikes near 12,600 contracts. The Put/Call Ratio is 0.06. Earnings are expected on November 11th."
Last week Canopy announced that it has made an early prepayment under its senior secured term loan (the "Term Loan") in an aggregate principal amount equal to US$100 million at a discounted price of US$97.5 million. This proactive move, which in addition to reducing the Company's leverage results in annualized interest expense savings of approximately US$14 million, underscores the Company's strong commitment to fiscal discipline and further strengthens its financial position as it continues to execute on its strategic priorities.
Canopy Growth news
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