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Benzinga
Benzinga
Business
Henry Khederian

Canopy Growth (CGC) Stock Is Falling Wednesday: What's Going On?

Canopy Growth CGC Canopy Donald Trump Canopy Growth Corp
Bush,Cannabis,Leaf,Close-up,In,A,Lush,Green

Shares of Canopy Growth Corp (NASDAQ:CGC) are trading lower Wednesday, pulling back from a sharp rally on Monday. The stock is seeing a downturn as initial excitement wanes following a social media post by President Donald Trump over the weekend that lifted the entire cannabis sector.

What To Know: On Monday, Canopy's stock jumped 20% after Trump shared a video highlighting the potential medical benefits of CBD for seniors and hinted at policy changes that could include Medicare coverage. The post ignited hopes for an accelerated path to federal cannabis reform in the U.S., a critical market for Canadian producers.

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