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 $9.03, up 15.03% from the previous day, and has decreased 31.59% in one year. It has underperformed other stocks in the Drug Manufacturers - Specialty & Generic industry by 0.22 percentage points. Canopy Growth stock is currently +227.77% from its 52-week low of $2.76, and -52.97% from its 52-week high of $19.20.
At the moment, there are 91.11M CGC shares outstanding. The market value of CGC is $822.76M. In the last 24 hours, 11.9M CGC shares were traded.
How to Buy Canopy Growth Stock
Not sure how to invest in Canopy Growth stock? Here's how.
- 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.
- Create a brokerage account: Sign up for 0% fee trading with the highest-rated brokerage we've found.
- Deposit money your brokerage account: Choose your payment method and add your information.
- 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).
- 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.
- 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.
Our preferred brokerage: eToro
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- Security: eToro is a regulated and licensed fintech leader.
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Get $10 towards your stock purchase by opening an account with eToro today.
Open eToro AccountStep 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
- 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.
- Provide your personal details to start a new brokerage account.
- Send your info by clicking the "Create Account" button. Get started with eToro today
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.
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 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 2.02x, relative to Drug Manufacturers - Specialty & Generic industry P/B ratio of 2.07x
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 $144.37M in cash and short term investments. This is enough to cover its annual cash burn of $186.12M.
Failed Health Checks:
- Total CGC debt is higher than 5 years ago, relative to shareholder equity.
- CGC has a relatively high debt to equity ratio of 1.5.
- CGC profit margin has gone up by 4.6 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 cash burn of 186120149. It does not have sufficient cash and short-term investments to cover this.
You can dive deeper into what analysts are forecasting on the Canopy Growth stock forecast page.
CGC Technicals
CGC Growth Metrics
Last year, CGC revenue was $246.67M. Over the last five year, CGC's revenue has gone up by 16.69% per year. This was slower than the Drug Manufacturers - Specialty & Generic industry average of 31.07%.
You can analyze CGC's earnings and revenue performance here.
Who is buying/selling CGC?
Over the last year, insiders at CGC have sold more shares than they have bought.
David Angelo Lazzarato, Director of CGC, was the latest CGC insider to sell. They sold $24,802.84 worth of CGC stock on Dec 29, 2023.
Research 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 analysis from other investors
One of the major reasons eToro is our top-rated brokerage is because of its social trading community.
Click below to find out what other community members have to say.
Step 5: Execute your CGC purchase
You have two primary options:
- Market order: A market order is an order to buy or sell a security at the best possible price.
Market orders are generally sufficient. - Limit order: A limit order is an order to buy or sell a security at a specific price (or better).
If you want to make sure you're buying or selling at a given price limit, use a limit order.
Click the Open button and your broker will execute the order.
If you require more info about buying stocks on eToro, watch the how to video below:
Step 6: Get notifications regarding your CGC position
Now that you own some shares in CGC, you'll want to keep up with your company.
Start a watchlist to keep tabs on your CGC stock.
CGC Feed
How to Buy Stock in Canopy Growth
To reiterate, here are the 6 steps you need to take to buy Canopy Growth stock right now:
- Decide where to buy Canopy Growth stock
- Create a brokerage account
- Deposit money your brokerage account
- Research Canopy Growth stock
- Execute your CGC purchase
- Get notifications regarding your CGC position
If you are looking for a online brokerage, eToro is our recommended option.
Get Started with eToro TodayIf you would like to watch your investment in Canopy Growth, create a watchlist today.
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