Canopy Growth (CGC)

What Moves the Stock

1. 01US federal cannabis legalization or rescheduling developments - potential market access to $30B+ US market drives speculative positioning
2. 02Canadian market pricing trends - wholesale cannabis prices per gram directly impact gross margins and path to profitability
3. 03Cash burn rate and liquidity runway - company has burned through $2B+ since 2020, requiring equity raises or asset sales
4. 04Quarterly revenue trajectory and market share in Canadian recreational segment - indicates competitive positioning versus Aurora, Tilray, Hexo
5. 05Strategic partnerships or M&A activity - consolidation potential in fragmented cannabis sector
6. 06Canadian recreational cannabis (estimated 65-70% of revenue) - dried flower, pre-rolls, vapes, edibles sold through provincial distributors
7. 07Canadian medical cannabis (estimated 15-20%) - direct-to-patient sales through Spectrum Therapeutics platform
8. 08International medical cannabis (estimated 10-15%) - exports to Germany, Australia, and other markets with medical programs

CGC Chart

My Notes

• momentum/speculative - The stock attracts retail traders and speculative investors betting on US federal legalization catalysts or sector…
• High sensitivity through multiple channels.
• Watch on earnings: US congressional activity on cannabis rescheduling (DEA Schedule III classification) or SAFE Banking Act passage, Canadian wholesale cannabis price per gram - Statistics Canada monthly data on average transaction prices, Quarterly cash burn rate and adjusted EBITDA trajectory toward breakeven.