# Canopy Growth Corporation (CGC)

> Source: Nexqual · https://nexqual.com/CGC · data as of 2026-10-23 17:46 UTC · cite as "Nexqual, Canopy Growth Corporation (CGC), nexqual.com/CGC" · informational, not investment advice.

**Price:** USD 0.67 (+0.80% today) · US market open, as of October 23, 2026 at 17:46 UTC; quotes may be delayed. Prev close 0.67 · day 0.65–0.68 · 52w 0.65–2.38 · market cap $301M · NMS

## Key facts
- Insider open-market sales, last ~7 months: 14 Form 4 filings, $326K; 14 not under a Rule 10b5-1 plan ($326K); 0 by opportunistic insiders, 4 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Total return with dividends: 1Y -49.2% vs S&P 500 +14.4%; 5Y -99.5% vs S&P 500 +77.1%.
- Next earnings: 2026-11-06, EPS estimate USD -0.03, revenue estimate $82.0M.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 14 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-09-28 | Yanofsky Theresa | Director | 14,920 | $14K | 10.2% | No | Routine (sold in Jun & Sep & Dec each year 2023–2025) |
| 2026-09-28 | Lazzarato David Angelo | Director | 22,380 | $21K | 10.6% | No | Routine (sold in Jun & Sep & Dec each year 2023–2025) |
| 2026-09-28 | Bayern Joseph | Director | 3,096 | $3K | 2.1% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-09-28 | Atkins M Shan | Director | 3,096 | $3K | 2.1% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-09-17 | Stewart Thomas Carlton | See Remarks | 25,755 | $24K | 4.2% | No | Too little history (no open-market trades in 2024) |
| 2026-08-24 | Gedeon Christelle | See Remarks | 13,344 | $20K | 1.9% | No | Too little history (no open-market trades in 2023) |
| 2026-08-24 | Stewart Thomas Carlton | See Remarks | 2,231 | $3K | 0.4% | No | Too little history (no open-market trades in 2024) |
| 2026-06-26 | Bayern Joseph | Director | 3,197 | $3K | 2.2% | No | Too little history (no open-market trades in 2023–2025) |
| 2026-06-26 | Yanofsky Theresa | Director | 15,054 | $14K | 9.3% | No | Routine (sold in Jun & Sep & Dec each year 2023–2025) |
| 2026-06-26 | Atkins M Shan | Director | 3,197 | $3K | 2.1% | No | Too little history (no open-market trades in 2023 or 2024) |
| 2026-06-26 | Lazzarato David Angelo | Director | 22,674 | $21K | 9.7% | No | Routine (sold in Jun & Sep & Dec each year 2023–2025) |
| 2026-06-17 | Stewart Thomas Carlton | See Remarks | 9,285 | $9K | 1.5% | No | Too little history (no open-market trades in 2024) |
| 2026-06-17 | Gedeon Christelle | See Remarks | 58,994 | $57K | 7.7% | No | Too little history (no open-market trades in 2023) |
| 2026-06-17 | Mongeau Luc | Chief Executive Officer | 135,231 | $132K | 7.3% | No | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -49.2% | -99.5% |
| S&P 500 (SPY) | +14.4% | +77.1% |
| Per year | -49.2% | -65.0% |
| Volatility (annualized) | 74.5% | 104.5% |
| Max drawdown | -65.4% (Dec 2025→Oct 2026) | -99.6% (Nov 2021→Oct 2026) |

## Peers (Drug Manufacturers - Specialty & Generic)
BHC (Bausch Health Companies Inc.) USD 6.33 -2.54% · HCM (HUTCHMED (China) Limited) USD 14.35 +0.49% · AMLX (Amylyx Pharmaceuticals, Inc.) USD 27.64 -3.26% · LQDA (Liquidia Corporation) USD 41.17 +3.73% · INDV (Indivior Pharmaceuticals, Inc.) USD 34.38 -2.70% · RGC (Regencell Bioscience Holdings L) USD 8.26 -15.80%

## More
Full page: https://nexqual.com/CGC · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CGC's own 10-K filed 2026-06-15 (https://www.sec.gov/Archives/edgar/data/1737927/000119312526270260/cgc-20260331.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Canopy USA | "While we believe, based on the advice of our legal advisors, that we currently comply with all applicable laws and regulations and that we will remain in compliance in the event that Canopy USA exercises the right to acq…" |
| Supplier | Cultiv8 Interests | "While we believe, based on the advice of our legal advisors, that we currently comply with all applicable laws and regulations and that we will remain in compliance in the event that Canopy USA exercises the right to acq…" |
| Supplier | TerrAscend Corp. (TSNDF) | "While we believe, based on the advice of our legal advisors, that we currently comply with all applicable laws and regulations and that we will remain in compliance in the event that Canopy USA exercises the right to acq…" |
| Customer | Canada | "We also have multiple offerings for veterans of the Canadian Armed Forces, including a team of customer care agents dedicated to assisting veterans with registration, ordering and insurance coverage; pre-approval and dir…" |
| Partner | Greenstar Canada Investment | "Comparatively, in fiscal 2025, we recognized a gain of $22.3 million, primarily in connection with the exchange of the $100 million principal amount promissory note issued to Greenstar Canada Investment Limited Partnersh…" |

## Revenue by business segment (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Canada Cannabis | $65.1M | 80.2% | +1042.2% |
| Cannabis Net Revenue | $65.1M | 80.2% | +14.2% |
| Storz & Bickel | $16.1M | 19.8% | +6.1% |
| Total revenue | $81.2M | 100% | — |
The lines above cover 180.2% of total revenue.

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Canadian Adult Use Cannabis | $29.7M | 36.6% | +9.9% |
| Canadian Medical Cannabis | $25.8M | 31.8% | +21.6% |
| Storz & Bickel | $16.1M | 19.8% | +6.1% |
| International Markets Cannabis | $9.6M | 11.8% | +9.6% |
| Total revenue | $81.2M | 100% | — |

## Revenue by region (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Canada | $54.9M | 67.7% | +13.9% |
| Germany | $17.6M | 21.7% | +22.3% |
| United States | $6.2M | 7.7% | +4.3% |
| Other Geographical Area | $2.4M | 3.0% | -32.3% |
| Total revenue | $81.2M | 100% | — |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $-0.03 | $0.00 | — | $82.0M | 1 |
| Next quarter (ends 2026-12-31) | $-0.01 | $0.00 | — | $90.0M | 1 |
| Current fiscal year (ends 2027-03-31) | $-0.07 | $-0.21 | -66.7% | $338.2M | 1 |
| Next fiscal year (ends 2028-03-31) | $-0.17 | $-0.17 | +0.0% | $364.3M | 1 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-06 (includes earnings 2026-11-06): ±37.6%; last 8 reports averaged ±18%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-10-30 | 7 | 166.9% | ±27.8% |
| 2026-11-06 | 14 | 128.2% | ±37.6% |
| 2026-11-13 | 21 | 218.5% | ±27.8% |
| 2026-11-20 | 28 | 112.9% | ±30.8% |
| 2026-11-27 | 35 | 203.2% | ±44.3% |
| 2026-12-18 | 56 | 260.7% | ±33.8% |
| 2027-01-15 | 84 | 76.0% | ±33.1% |
| 2027-04-16 | 175 | 51.4% | ±27.8% |