Why Canopy Growth Stock Just Popped 11%

Canopy Growth (NYSE: CGC) has a new CEO -- and investors like that news a lot.

Five months ago, Canopy lost Chairman, co-founder, and co-CEO Bruce Linton when he was terminated in July, after the company reported a loss of a 670.1 million Canadian dollars. That left just one CEO in the corner office -- Mark Zekulin -- and now he's about to go away, too.

This morning, Canopy announced it has appointed David Klein -- until now CFO of Canopy investor Constellation Brands (NYSE: STZ), and even more recently appointed Canopy's chairman of the board -- to become its new solo CEO, effective Jan. 14, 2020.  

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Source Fool.com