Why Canopy Growth Stock Zoomed Higher Today
Struggling pot stock Canopy Growth (NASDAQ: CGC) was looking pretty good to investors on Thursday. The Canada-based cannabis slinger's shares closed the day more than 7% higher, after the company announced an asset sale.
Canopy said it has entered into an agreement to sell its headquarters building, known as Hershey Drive, in Smiths Falls, Ontario. The buyer, appropriately, is its original owner: Hershey Canada, the Canadian wing of American candy manufacturer . The marijuana company will receive around 53 million Canadian dollars ($39 million) in cash for the property.
This is the seventh in a series of asset divestments for Canopy Growth, with all of the deals combined totaling roughly $115 million.
Source Fool.com
Hershey Co. Stock
€181.30
0.850%
With 9 Buy predictions and only 2 Sell predictions the community sentiment for the stock is positive.
With a target price of 210 € there is a slightly positive potential of 15.83% for Hershey Co. compared to the current price of 181.3 €.
