Canopy Growth Corporation CGC shares are trading higher Tuesday. The stock has gained more than 75% over the last five days.
What To Know:
Shares of Canopy Growth's stock have been trading higher since last Thursday when it was reported that Adm. Rachel Levine, the assistant secretary for health at HHS sent a letter to the DEA Administrator, Anne Milgram, recommending that marijuana be rescheduled to a Schedule III substance.
Shares of CGC are moving higher on very heavy trading volume. According to data from Benzinga Pro, more than 66.5 million shares have already been traded in the session, compared to the stock's 100-day average of 30.235 million shares.
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CGC Price Action: According to Benzinga Pro, Canopy Growth shares are up nearly 26% at 70 cents at the time of publication.
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