Why the Market Dipped But Canopy Growth Corporation (CGC) Gained Today

Canopy Growth Corporation (CGC) ended the recent trading session at $1.28, demonstrating a +0.79% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.77%. Elsewhere, the Dow lost 0.95%, while the tech-heavy Nasdaq lost 0.87%.The company's stock has climbed by 36.49% in the past month, exceeding the Medical sector's gain of 4.45% and the S&P 500's gain of 11.54%.Investors will be eagerly watching for the performance of Canopy Growth Corporation in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of -$0.28, marking stability compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $49.92 million, down 7.53% from the year-ago period.Investors should also note any recent changes to analyst estimates for Canopy Growth Corporation. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Canopy Growth Corporation presently features a Zacks Rank of #4 (Sell).The Medical - Products industry is part of the Medical sector. With its current Zacks Industry Rank of 185, this industry ranks in the bottom 26% of all industries, numbering over 250.The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.To follow CGC in the coming trading sessions, be sure to utilize Zacks.com.Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Canopy Growth Corporation (CGC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks