Canopy Growth Corp Stock Price Patterns
| WEED Stock | CAD 1.48 0.05 3.50% |
Momentum 40
Sell Extended
Oversold | Overbought |
EPS Estimate Next Quarter 0.06 | EPS Estimate Current Year (0.33) | EPS Estimate Next Year (0.10) | Wall Street Target Price 2.6 | EPS Estimate Current Quarter (0.05) |
Using Canopy Growth hype-based prediction, you can estimate the value of Canopy Growth Corp from the perspective of Canopy Growth response to recently generated media hype and the effects of current headlines on its competitors.
The fear of missing out, i.e., FOMO, can cause potential investors in Canopy Growth to buy its stock at a price that has no basis in reality. In that case, they are not buying Canopy because the equity is a good investment, but because they need to do something to avoid the feeling of missing out. On the other hand, investors will often sell stocks at prices well below their value during bear markets because they need to stop feeling the pain of losing money.
Canopy Growth after-hype prediction price | CAD 1.47 |
There is no one specific way to measure market sentiment using hype analysis or a similar predictive technique. This prediction method should be used in combination with more fundamental and traditional techniques such as stock price forecasting, technical analysis, analysts consensus, earnings estimates, and various momentum models.
Canopy |
Canopy Growth After-Hype Price Density Analysis
As far as predicting the price of Canopy Growth at your current risk attitude, this probability distribution graph shows the chance that the prediction will fall between or within a specific range. We use this chart to confirm that your returns on investing in Canopy Growth or, for that matter, your successful expectations of its future price, cannot be replicated consistently. Please note, a large amount of money has been lost over the years by many investors who confused the symmetrical distributions of Stock prices, such as prices of Canopy Growth, with the unreliable approximations that try to describe financial returns.
Next price density |
| Expected price to next headline |
Canopy Growth Estimiated After-Hype Price Volatility
In the context of predicting Canopy Growth's stock value on the day after the next significant headline, we show statistically significant boundaries of downside and upside scenarios based on Canopy Growth's historical news coverage. Canopy Growth's after-hype downside and upside margins for the prediction period are 0.07 and 9.52, respectively. We have considered Canopy Growth's daily market price in relation to the headlines to evaluate this method's predictive performance. Remember, however, there is no scientific proof or empirical evidence that news-based prediction models compare with traditional linear, nonlinear models or artificial intelligence models to provide accurate predictions consistently.
Current Value
Canopy Growth is extremely dangerous at this time. Analysis and calculation of next after-hype price of Canopy Growth Corp is based on 3 months time horizon.
Canopy Growth Stock Price Outlook Analysis
Have you ever been surprised when a price of a Company such as Canopy Growth is soaring high without any particular reason? This is usually happening because many institutional investors are aggressively trading Canopy Growth backward and forwards among themselves. Have you ever observed a lot of a particular company's price movement is driven by press releases or news about the company that has nothing to do with actual earnings? Usually, hype to individual companies acts as price momentum. If not enough favorable publicity is forthcoming, the Stock price eventually runs out of speed. So, the rule of thumb here is that as long as this news hype has nothing to do with immediate earnings, you should pay more attention to it. If you see this tendency with Canopy Growth, there might be something going there, and it might present an excellent short sale opportunity.
| Expected Return | Period Volatility | Hype Elasticity | Related Elasticity | News Density | Related Density | Expected Hype |
0.27 | 7.98 | 0.01 | 0.03 | 9 Events / Month | 2 Events / Month | In about 9 days |
| Latest traded price | Expected after-news price | Potential return on next major news | Average after-hype volatility | |
1.48 | 1.47 | 0.68 |
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Canopy Growth Hype Timeline
Canopy Growth Corp is at this time traded for 1.48on Toronto Exchange of Canada. The entity has historical hype elasticity of -0.01, and average elasticity to hype of competition of -0.03. Canopy is estimated to decline in value after the next headline, with the price expected to drop to 1.47. The average volatility of media hype impact on the company price is over 100%. The price decline on the next news is expected to be -0.68%, whereas the daily expected return is at this time at 0.27%. The volatility of related hype on Canopy Growth is about 6191.38%, with the expected price after the next announcement by competition of 1.45. The company has Price to Book (P/B) ratio of 0.74. Historically many companies with similar price-to-book (P/B) ratio do better than the market in the long run. Canopy Growth Corp recorded a loss per share of 1.86. The entity had not issued any dividends in recent years. The firm had 1:10 split on the 20th of December 2023. Assuming the 90 days trading horizon the next estimated press release will be in about 9 days. Check out Canopy Growth Basic Forecasting Models to cross-verify your projections.Canopy Growth Related Hype Analysis
Having access to credible news sources related to Canopy Growth's direct competition is more important than ever and may enhance your ability to predict Canopy Growth's future price movements. Getting to know how Canopy Growth's peers react to changing market sentiment, related social signals, and mainstream news is a great way to find investing opportunities and time the market. The summary table below summarizes the essential lagging indicators that can help you analyze how Canopy Growth may potentially react to the hype associated with one of its peers.
| HypeElasticity | NewsDensity | SemiDeviation | InformationRatio | PotentialUpside | ValueAt Risk | MaximumDrawdown | |||
| CPH | Cipher Pharmaceuticals | (0.58) | 5 per month | 1.38 | 0.03 | 3.49 | (2.50) | 9.18 | |
| OGI | OrganiGram Holdings | (0.05) | 7 per month | 0.00 | (0.1) | 5.43 | (6.82) | 29.72 | |
| TSND | TerrAscend Corp | (0.12) | 3 per month | 10.33 | 0.03 | 19.70 | (10.53) | 121.97 | |
| ACB | Aurora Cannabis | (0.04) | 9 per month | 0.00 | (0.1) | 5.53 | (5.90) | 30.59 | |
| EDT | Spectral Med | 0.03 | 5 per month | 0.00 | (0.08) | 3.94 | (4.48) | 15.23 | |
| HITI | High Tide | (0.15) | 6 per month | 0.00 | (0.15) | 3.76 | (4.88) | 19.30 | |
| NGEN | NervGen Pharma Corp | 0.25 | 5 per month | 3.28 | 0.15 | 12.05 | (5.76) | 33.41 | |
| FRX | Fennec Pharmaceuticals | (0.49) | 9 per month | 0.00 | (0.05) | 2.75 | (2.93) | 19.37 | |
| XLY | Auxly Cannabis Group | (0.01) | 3 per month | 0.00 | (0.10) | 7.14 | (7.14) | 21.98 |
Canopy Growth Additional Predictive Modules
Most predictive techniques to examine Canopy price help traders to determine how to time the market. We provide a combination of tools to recognize potential entry and exit points for Canopy using various technical indicators. When you analyze Canopy charts, please remember that the event formation may indicate an entry point for a short seller, and look at other indicators across different periods to confirm that a breakdown or reversion is likely to occur.| Cycle Indicators | ||
| Math Operators | ||
| Math Transform | ||
| Momentum Indicators | ||
| Overlap Studies | ||
| Pattern Recognition | ||
| Price Transform | ||
| Statistic Functions | ||
| Volatility Indicators | ||
| Volume Indicators |
About Canopy Growth Predictive Indicators
The successful prediction of Canopy Growth stock price could yield a significant profit to investors. But is it possible? The efficient-market hypothesis suggests that all published stock prices of traded companies, such as Canopy Growth Corp, already reflect all publicly available information. This academic statement is a fundamental principle of many financial and investing theories used today. However, the typical investor usually disagrees with a 'textbook' version of this hypothesis and continually tries to find mispriced stocks to increase returns. We use internally-developed statistical techniques to arrive at the intrinsic value of Canopy Growth based on analysis of Canopy Growth hews, social hype, general headline patterns, and widely used predictive technical indicators.
We also calculate exposure to Canopy Growth's market risk, different technical and fundamental indicators, relevant financial multiples and ratios, and then comparing them to Canopy Growth's related companies. | 2022 | 2023 | 2024 | 2026 (projected) | Days Sales Outstanding | 74.98 | 63.69 | 71.62 | 92.08 | PTB Ratio | 8.49 | 1.52 | 0.29 | 29.89 |
Pair Trading with Canopy Growth
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Canopy Growth position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Canopy Growth will appreciate offsetting losses from the drop in the long position's value.Moving against Canopy Stock
| 0.49 | AMGN | Amgen CDR | PairCorr |
| 0.44 | BTE | Baytex Energy Corp | PairCorr |
| 0.44 | IPO | InPlay Oil Corp | PairCorr |
| 0.35 | BCE | BCE Inc | PairCorr |
| 0.33 | TVE | Tamarack Valley Energy | PairCorr |
| 0.31 | PGDC | Patagonia Gold Corp | PairCorr |
The ability to find closely correlated positions to Canopy Growth could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Canopy Growth when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Canopy Growth - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Canopy Growth Corp to buy it.
The correlation of Canopy Growth is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Canopy Growth moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Canopy Growth Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Canopy Growth can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Check out Canopy Growth Basic Forecasting Models to cross-verify your projections. You can also try the Portfolio Suggestion module to get suggestions outside of your existing asset allocation including your own model portfolios.