UBS ETRACS Alerian MLP Infrastructure Index ETN
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MLPI UBS ETRACS Alerian MLP Infrastructure Index ETN
RUN Sunrun Inc
BAC Bank of America Corp
HLT Hilton Worldwide Holdings Inc
MNMT Motivating Masses Inc
FTA.IV First Trust Large Cap Value Oppts Alpha
MSFT Microsoft Corp
MPLX MPLX LP
KOPN Kopin Corp
TERRF Terna Rete Elettrica Nazionale SpA
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Closing Price
$18.57
Day's Change
0.00 (0.00%)
Bid
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Ask
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B/A Size
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Day's High
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Day's Low
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Volume
(Light)
Volume:
0

10-day average volume:
1,691,161
0

Canopy Growth's stock gains ahead of earnings; options prep for relatively subdued reaction

11:05 am ET June 20, 2019 (MarketWatch)
Print

The U.S.-listed shares of Canopy Growth Corp. (WEED.T) rose 0.7% in morning trading Thursday, ahead of the Canada-based cannabis company's fiscal fourth-quarter results (http://www.marketwatch.com/story/canopy-growth-earnings-can-the-worlds-largest-marijuana-company-keep-growing-like-a-weed-2019-06-18) due out after the close. Canopy has reported wider than expected losses the past four quarters, while revenue beat expectations in the third quarter after missing the previous three quarters. An options strategy known as a straddle, a pure volatility play involving the simultaneous purchase of bullish and bearish options at at-the-money stock prices and expiring at Friday's close, are priced for the stock to move about 7.0% in either direction on Friday. That compares with an average 13.8% one-day post-earnings move the past 4 quarters. But that average includes a 3.1% gain after third-quarter results, preceded by a 10.9% decline, a 30.4% surge and a 10.8% fall after the previous three quarters. Canopy's stock has rallied 60.1% year to date, while the ETFMG Alternative Harvest ETF (MJ) has advanced 30.2% and the S&P 500 has gained 17.6%.

-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

June 20, 2019 11:05 ET (15:05 GMT)

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