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
€151.00
-2.200%
We see a rather positive sentiment for Hershey Co. with 14 Buy predictions and 2 Sell predictions.
As a result the target price of 181 € shows a slightly positive potential of 19.87% compared to the current price of 151.0 € for Hershey Co..
