Canopy Growth Corporation (TSX:WEED:CA) outpaced most other peers in the directory of the approximately 200 stocks we track in the cannabis industry on July 26, gaining 5.05% to close the day at $9.15 after opening the trading day at $8.8. Today's rise came with about 1.75 million shares changing hands, compared to an average of 30-day volume of 942,548 for Canopy Growth Corporation. Shares moved as high at $9.21 and as low as $8.76 in today's action.
The share appreciation gives the company a market capitalization of $1.44 billion based upon 165.22 million shares outstanding.
In the past 52 weeks, shares of Canopy Growth Corporation have traded as low as $2.97 and as high as $17.86. Technical traders will take note that at $9.15, shares of WEED:CA are trading above their 50-day moving average (MA) at $7.941 and below their 200-day MA at $9.345. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move above them is typically regarded as bullish.