Why Canopy Growth Popped 5.4% Higher Today

Canopy Growth (NASDAQ: CGC) ended the week on a high, rising to close up 5.4% on Friday thanks to a court decision in Canada approving a corporate divorce, complete with a settlement.

On Thursday, Canopy Growth's partner and near-namesake, venture capital firm Canopy Rivers (OTC: CNPO.F), won approval from the Ontario Superior Court of Justice for an agreement separating the two companies.

Rivers was a subsidiary of Canopy Growth, although it was publicly traded as a separate entity.

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Source Fool.com