Canopy Growth Craters to Downside

Canopy Growth Corporation (CGC), a leading cannabis company that offers a diverse set of products, is on a major price downside as shown in the price chart below. The stock made three peaks but each one was followed by a significant downside move.

3D Chart of All Buy and Sell Returns

The 3D chart of the 7,260 buy and sell percent returns based on 120 monthly closes from June 30, 2014 to May 24, 2024 shows 3,641 (50.15%) profitable returns (green areas) and 3,619 (49.85%) unprofitable returns (red areas) The ratio of profitable to unprofitable returns was 1.006.

The largest single unprofitable return was a loss of 99.35% for the buy on April 30, 2019 at $505.20 and the sell on February 29, 2024 at $3.30.

In addition, a total of 2,543 buy and sell returns were losses of 50 percent or more. And 1,028 buy and sell returns were losses of 90 percent or more.

Return Chart for All Monthly Buy Dates

Another way to look at buy and sell returns is to examine the returns associated with every monthly buy date and its price. For each buy date the percent return is computed using the current monthly closing price. The chart below shows 119 returns. Only 11 (9.24%) returns were profitable (green vertical lines) and 108 (90.76%) were unprofitable (red vertical lines).