Canopy Growth Corp (WEED)

[john1311]

Why Canopy Growth, Cronos Group, and OrganiGram Soared Today

Shares of several top Canadian cannabis producers soared today after one of their peers, Aurora Cannabis (NYSE: ACB), reported better-than-expected fiscal 2020 third-quarter revenue growth after the market closed on Thursday. Canopy Growth (NYSE: CGC) stock was up 13.4% as of 3:38 p.m. EDT on Friday, while shares of Cronos Group (NASDAQ: CRON) and OrganiGram Holdings (NASDAQ: OGI) were up 10.3% and 13.5%, respectively.

Investors now appear to be increasingly optimistic that the rest of the Canadian cannabis industry could also enjoy a turn for the better after a challenging period following Aurora's surprisingly positive results. Probably the best news for Canopy, Cronos, and OrganiGram from Aurora's Q3 update was across-the-board revenue growth.

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