WallStreetZenWallStreetZen

How to Buy Canopy Growth Stock

Canopy Growth Corp

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in Canada, the United States, and Germany.

Canopy Growth stock last closed at $4.24, down 6.81% from the previous day, and has decreased 27.05% in one year. It has underperformed other stocks in the Drug Manufacturers - Specialty & Generic industry by 0.01 percentage points. Canopy Growth stock is currently +53.9% from its 52-week low of $2.76, and -71.58% from its 52-week high of $14.92.

At the moment, there are 84.86M CGC shares outstanding. The market value of CGC is $359.79M. In the last 24 hours, 6.49M CGC shares were traded.

How to Buy Canopy Growth Stock

Not sure how to invest in Canopy Growth stock? Here's how.
  1. Decide where to buy Canopy Growth stock: You need to pick an online brokerage, but don't worry - we've researched dozens of stock brokerages and apps to help you decide where to buy Canopy Growth stock.
  2. Create a brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've found.
  3. Deposit money your brokerage account: Choose your payment method and add your information.
  4. Research Canopy Growth stock: The Canopy Growth ticker symbol is CGC. Is Canopy Growth stock a good investment? Should you buy shares of CGC? How do CGC's underlying business fundamentals look? Do top analysts think Canopy Growth is a good buy? Why has CGC's stock price moved recently? (Hint: Our stock market research website can help you understand if CGC is a good stock to buy).
  5. Execute your CGC purchase: Decide if you will purchase CGC shares at the current market price or use a limit order to buy CGC stock at a specific price.
  6. Get notifications regarding your CGC position: Create a watchlist to key updates about your investment in Canopy Growth shares.

Step 1: Decide where to buy Canopy Growth stock

You will need a brokerage account in order to access the NASDAQ market and buy CGC shares.

A brokerage account is an investment account that enables you to buy and sell a variety of financial instruments, including stocks, bonds, mutual funds, and ETFs.

Our preferred brokerage: eToro

Based on our research, eToro is the best online stock brokerage. Here's why:

  • You can invest in stocks with 0% commissions: Invest without paying trading commissions.
  • Buy fractional shares: Even if you don't have the money to buy a full share, you can still buy the stock.
  • Access to global markets: From Technology to Financial Services, New York to Shanghai — you can fill your portfolio with stocks from the globe's leading exchanges.
  • Social investing: eToro has a community of more than 20 million users globally. Talk to, learn from, and copy the unique crypto portfolios of top investors.
  • Security: eToro is a regulated and licensed fintech leader.
  • Buy other assets: Such as ETFs and cryptos.

Get $10 towards your stock purchase by opening an account with eToro today.

Open eToro Account
eToro securities trading is offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. https://www.wallstreetzen.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD.

Step 2: Create a brokerage account

Now that you've chosen the best brokerage, it's time to fill out some personal information so you can invest in CGC today.

How to Create a New Investment Account on eToro

  1. Click here to get started.
    eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
  2. Provide your personal details to start a new brokerage account.
  1. Send your info by clicking the "Create Account" button.
  2. Get started with eToro today
    eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Step 3: Deposit money your brokerage account

Now that you have filled out your info on apps for stocks, your next step is to transfer the money for your investment:

Check out this video walkthrough if you need help depositing money into your investment account.

Get started with eToro today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Step 4: Research Canopy Growth stock

After you have chosen the best place to buy Canopy Growth stock, it's crucial to research their stock prior to investing, so you actually wrap your head around the risk as well as the opportunity.

Canopy Growth stock at a glance

CGC Price
$4.24
1w %
-12.76%
1y %
-27.05%
5y %
-98.02%
P/E
-0.64x
P/B
0.94x
P/S
1.63x
PEG
N/A
Revenue
$206.55M
Earnings
-$536.90M
Fore. Rev. Growth
6.2%
Fore. Earn. Growth
N/A
Market Cap
$359.79M
Next Earnings
N/A
Next Dividend
N/A

CGC Fundamentals

WallStreetZen was built to help everyday investors do more in-depth fundamental analysis.

You can view all of the due diligence checks on CGC's stock page.

How is CGC stock valued?

Analysts use a variety of different financial metrics, analyses, models, and charts to gauge CGC's true value.

Using relative valuations methods:

  • CGC may be undervalued based on its P/B ratio of 0.94x, relative to Drug Manufacturers - Specialty & Generic industry P/B ratio of 2.31x

You can access additional valuation research on CGC's stock here.

CGC Financial Summary

Passed Health Checks:

  • There are more short-term assets than short-term liabilities on the CGC balance sheet.
  • CGC has $145.76M in cash and short term investments. This is sufficient to cover its annual cash burn of $82.57M.
  • CGC has cash burn of 82566187. It has enough cash and short-term investments to cover this for at least one year.

Failed Health Checks:

  • Total CGC debt is higher than 5 years ago, relative to shareholder equity.
  • CGC profit margin has gone up by 1.28 percentage points in the past year, but the company is still unprofitable.
  • There are more long-term liabilities than short-term assets on the CGC balance sheet.
  • CGC has a relatively high debt to equity ratio of 1.41.

Is Canopy Growth stock a Buy, Hold, or Sell, according to Wall Street analysts?

Out of 1 sell side analysts who give forecasts on CGC, the consensus analyst rating on Canopy Growth is a Strong Sell

It's important to keep in mind that analyst ratings are not recommendations, nor are they financial advice.

You can dig deeper into what analysts are forecasting on the Canopy Growth stock forecast page.

Metrics for Advanced CGC Traders

SMA10
4.93
SMA20
4.77
SMA50
4.66
SMA100
5.68
SMA200
6.24
MACD
0.01
MACD Signal
0.06
MACD Histogram
-0.05
RSI
42.56
Stochastic %K
16.43
Stochastic %D
40.04
StochRSI %K
3
StochRSI %D
29.31

CGC Revenue

Last year, CGC revenue was $206.55M. In the past 5 year, CGC's revenue has gone up by -1.15% per year. This was slower than the Drug Manufacturers - Specialty & Generic industry average of 18.93%.

You can research CGC's earnings and revenue performance here.

Who is buying/selling CGC?

Over the past year, insiders at CGC have sold more shares than they have bought.

Willy Kruh, Director of CGC, was the latest CGC insider to sell. They sold $9,875.25 worth of CGC shares on Sep 30, 2024.

Dig into more about who owns CGC stock here.

Can I rely on CGC as an income stream?

No, Canopy Growth doesn't provide an income stream by paying out dividends.

Get opinions from other investors

One of the primary reasons eToro is our highest-rated brokerage is because of its social trading community.

Click below to see what other community members have to say.

Step 5: Execute your CGC purchase

You have two main types of orders:

  • Market order: A market order is an order to buy or sell a stock at the best available price.
    Market orders are mostly fine for most investors.
  • Limit order: A limit order enables you to buy or sell a stock at a specific price (or better).
    If you want to make sure you're buying or selling at a particular price limit, place a limit order.

Hit the Open Trade button and your broker will execute your order.

If you want additional help investing in stocks on eToro, click the helpful video below:

Open eToro Account

Step 6: Get notifications regarding your CGC position

Now that you own some CGC stock, you'll want to keep up with your new stock purchase.

Add CGC to a watchlist to keep tabs on your CGC stock.

CGC Feed

How to Buy Stock in Canopy Growth

To summarize, here are the 6 steps to buy stock in Canopy Growth:

  1. Decide where to buy Canopy Growth stock
  2. Create a brokerage account
  3. Deposit money your brokerage account
  4. Research Canopy Growth stock
  5. Execute your CGC purchase
  6. Get notifications regarding your CGC position

If you are looking for a online brokerage, eToro is our recommended option.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

If you want to keep track of your new investment in Canopy Growth, create a watchlist on WallStreetZen today.

NASDAQ: CGC
$4.24-0.31 (-6.81%)
Updated Nov 8, 2024
Open eToro Account
NASDAQ: CGC
$4.24-0.31 (-6.81%)
Updated Nov 8, 2024
Open eToro Account

FAQ

How much does it cost to buy one Canopy Growth share?

As of Nov 8, 2024, it costs $4.24 to buy one share of Canopy Growth stock.

Remember, eToro's fractional share buying allows you to buy partial shares of stocks and ETFs. Even if you only have $2, you can buy 0.472 shares of CGC.

Get Started with eToro Today
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Is now a good time to buy Canopy Growth stock?

According to 1 Wall Street analysts who monitor Canopy Growth, their consensus recommendation is to sell Canopy Growth stock.

What is the best way to buy Canopy Growth stock?

One way to place an order for Canopy Growth stock is with a brokerage account.
WallStreetZen does not provide financial advice and does not issue recommendations or offers to buy stock or sell any security.

Information is provided 'as-is' and solely for informational purposes and is not advice. WallStreetZen does not bear any responsibility for any losses or damage that may occur as a result of reliance on this data.