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Stock Alert: Canopy Growth Spikes 4%

Shares of Canopy Growth Corporation (CGC) are rising more than 4% Tuesday morning at $18.13. The stock has traded in the range of $9- $41.65 in the past one year.

Monday, during a virtual investor meeting, the company said it expects the legal cannabis market to grow to $70 billion in the next three years, even in the midst of challenges during the current Covid-19 pandemic.

Currently, the market value of legal cannabis stands at $10 billion. However, the company sees the value rising sharply as more people are expected to use legal cannabis.

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