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Home 🌿 Marijuana Business News 🌿 Canopy Growth Corp.: Marijuana Stock Goes Wild … Again 🌿

Canopy Growth Corp.: Marijuana Stock Goes Wild … Again

Submitted by Marijuana News on Thu, 11/24/2016 - 08:45

After dropping 15% on Tuesday, Canopy Growth Corp. (CVE:CGC, TSE:CGC) stock shot up with a 20% rebound on Wednesday, marking another change of fortune in the unpredictable marijuana production market.

The roller coaster that many of these marijuana producers—including Canopy Growth—have been riding recently shows no sign of slowing down, as the CGC stock share value rebounded yet again, demonstrating that the market has by no means settled yet.

Take, for instance, the news from Canada’s Minister of Veterans Affairs Kent Hehr that the Canadian federal government will limit reimbursement for military veterans using medical marijuana from 10 grams per day to three grams per day. The average patient uses about one to three grams a day, according to Health Canada’s web site. (Source: “Marijuana stock sell off as Veterans’ Affairs enacts new restrictions,” Financial Post, November 22, 2016.)

This announcement followed an investigation into marijuana producers allegedly price gouging the Canadian government...

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