How to buy Canopy Growth Corporation shares

Canopy Growth Corporation is one of the largest Canadian marijuana brands. In this guide, find out everything you need to know before you invest in Canopy Growth stock.
By: Charlie Hancox
Charlie Hancox
Alongside his passion for trading, Charlie has represented Great Britain and won national championships as a water polo player,… read more.
Updated: Sep 13, 2021
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This page details all of the information that you need to know ahead of your investment in Canopy Growth Corporation. We run through what the company is, its business model, and its recent market performance.

Compare the best Canopy Growth Corporation trading platforms

In the table below, we have provided links to the best places to buy Canopy Growth Corporation shares online. Simply click on your chosen option and sign up to enjoy convenient, low-fee access to a variety of assets, including Canopy Growth stock. Otherwise, to continue learning about the company, read on.

1
Min. Deposit
$50
Exclusive promotion
user-score
10
Trade/invest in stocks with just $50
Invest for dividends and get payout on stocks on Ex-Dividend day
Over 11 payment methods, including PayPal
Start Trading
Description:
eToro is a multi-asset investment platform with more than 2000 assets, including FX, stocks, ETF’s, indices and commodities. eToro users can connect with, learn from, and copy or get copied by other users. Buying stocks on eToro is free and you can invest with as little as $50.
Payment Methods
Bank Transfer, Wire Transfer
Full regulations list:
CySEC, FCA
eToro USA LLC does not offer CFDs and makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication, which has been prepared by our partner utilizing publicly available non-entity specific information about eToro. Your capital is at risk.
2
Min. Deposit
$1
Exclusive promotion
user-score
9.3
0 Commissions and no deposit minimums
Registered with and regulated by SEC and FINRA
Loss of cash protection
Start Trading
Description:
Financial company driven by technology and offering all-in-one self-directed investment platform that provides excellent user experience.
Payment Methods
Full regulations list:

How to buy Canopy Growth Corporation stock, a step-by-step guide

The process of getting shares in Canopy Growth Corporation is quick and simple, so don’t worry even if you’re new to stock investing. These are the steps to follow in order to complete your investment:

  1. Choose a broker. You need to use an online brokerage platform. There are many different options to choose from, each with its own unique benefits and drawbacks. The comparison table above can help you select the right broker for you, and you can head to our comprehensive broker reviews if you’re still unsure.
  2. Create an account. Once you’ve selected your broker, simply go to their website and create an account. The steps required for this will vary from platform to platform, but generally you can expect to have to provide your name, email address, phone number, and some form of photo identification.
  3. Deposit funds. Log into your broker account and select the option to deposit funds. Depending on your broker you’ll have a variety of payment options available; most brokers accept bank transfers and debit card payments, but not all accept e-wallets such as PayPal. Select your preferred payment method and deposit the amount of money you wish to invest in Canopy Growth Corporation shares.
  4. Place an order for WEED stock. Search for Canopy Growth Corporation’s ticker symbol (WEED) and see the current price at which the stock is trading. If you’re happy with the price, enter the amount of shares you wish to own and place your order.
  5. Execute your order. Once you have placed your order, your broker will automatically execute it for you and your Canopy Growth Corporation shares will be listed in your account. Congratulations, you’ve just bought shares in Canopy Growth Corporation.

What is Canopy Growth Corporation? And should I invest?

Founded in 2013, headquartered in Smiths Falls, Canada, and originally named Tweed Marijuana, Canopy Growth is a company that produces and sells cannabis and hemp-based products for both medical and recreational purposes. It is now one of the top ten cannabis companies in one of the global hotspots, Canada. Canopy Growth’s primary markets are are Canada, the United States and Germany.

The company is divided into two main segments: Global Cannabis and Other Consumer Products. Via these divisions, it produces a wide variety of products including dried cannabis flowers, softgel capsules, and oils and concentrates, and these items are sold under various brand names.

Alongside its product line, Canopy Growth also has a portfolio of investments in the global cannabis sector, providing growth capital and a strategic support platform. Additionally, the company has a number of strategic partnerships, including an arrangement with NEEKA Health Canada and NHL Alumni Association to examine the effectiveness of CBD-based therapies in the treatment of post-concussion. These credentials make WEED stock an encouraging investment option for proponents of the cannabis macro story.

How has the company performed in recent years?

Since its IPO in 2016, the company has grown enormously. However, the past few years have seen Canopy’s share price largely flatline, which has also occurred with most other companies in the cannabis sector. The weed sector is still new and is taking time to find its feet, and it is also competing against black market sales. In addition, some optimistic weed stock investors expected the industry to grow at a considerably faster rate, and there were certainly some overvaluations as a result.

However, the Canopy Growth Corporation’s revenue has continued to surge year-over-year, climbing to upwards of $600 million. In addition, the company appears to have an aggressive growth strategy. Having cuts costs and experienced an uptick in cannabis demand as the COVID-19 pandemic draws to a close, the company now has a strong cash position with which to fund cross-border expansion plans. Moreover, Canopy Chief Executive, David Klein, recently stated ‘We continue to look at building out our position in the United States.’

As the marijuana sector continues to grow, and as more North American states legalise the substance, Canopy appears to have the assets, business model, cash reserves and strategic partnerships to strengthen its foothold in the region. With the legal cannabis market set to pull in $43 billion by 2025, this offers plenty of room for WEED shares to grow in value.

Is it a good time to buy Canopy Growth Corporation shares now?

The cannabis industry is certainly one with a lot of potential for growth, so from the perspective of a long-term investor, buying in now could prove to be an astute move. If holding WEED stock for the long run is something that interests you, make sure you conduct extensive due diligence and really dig into the fundamentals of Canopy Growth so you can generate a clear picture of how much it is worth.

By contrast, for short-term traders, you need to pay more attention to technical indicators. By reading charts and identifying patterns, you can strategise when to purchase and sell shares in order to create accelerated returns. Moreover, since the marijuana trade is a relatively new industry, it is likely to experience the volatility necessary to generate significant trading opportunities.

Regardless of if you are in for the long term or the short term, it is of paramount importance that you stay up to date with the latest stories concerning Canopy Growth Corp. That’s precisely why we have listed our most relevant trending news stories below; simply click on one of them to check it out.

Buying, selling and trading Canopy Growth Corporation shares for beginners

What to do before buying shares

You should always take the time to research a stock fully before investing your money, especially if you haven’t bought shares before. The more knowledge you have, the better your chances of making a wise investment. 

With that in mind, here’s a checklist to run through before you start.

  1. Research the company. You should always examine the fundamentals of a company first. What is Canopy Growth Corporation? How did the company get its start? How did it grow? Does Canopy Growth Corporation’s balance sheet look like it’s in a good place? Is the company innovating? The more you know about Canopy Growth Corporation, the better positioned you’ll be to make smart investment decisions.
  2. Make sure you understand the basics of stock investing. Before getting involved in the stock market, make sure you have an understanding of how it works. This will ensure that you have more clearly defined goals and have thought through how you will achieve them.
  3. Decide between share dealing and CFD trading. Choose the type of investment strategy you want to pursue, and make sure you have carried out the necessary fundamental or technical analysis for share dealing and CFD trading respectively.
  4. Set the size of your budget. The golden rule of investing is never to risk more than you can afford to lose. Not every investment you make will result in a profit, so it is important to set a budget that not only allows good potential for capital growth, but also protects against overly damaging losses.
  5. Find the right broker. Individual brokers each have their own pros and cons. Some will have low fees but have a user interface you struggle to understand, whereas others may be a bit more expensive but come with a range of features that you want to take advantage of. Our broker reviews can help you find the right platform for you.
  6. Examine broader market conditions. No stock exists in a vacuum, and it’s always important to analyse the general trends of the stock market as a whole before investing. If a bear market is setting in and stock prices are falling, it’s best to wait it out and invest your money later when the stock is cheaper. If, however, the market is looking bullish, you’ll want to make your investment quickly to get the maximum benefit from rising stock prices. Follow the latest news to keep on top of movements in the financial markets.

What is the difference between buying, selling, and trading shares?

If you’re new to stock investing, then it’s important to understand the basics of how to buy, sell, and trade Canopy Growth Corporation shares. Here’s a quick run-through of what’s involved in each.

Buying Canopy Growth Corporation

This process involves finding a broker and placing an order for Canopy Growth Corporation stock, as outlined in the steps further up this page. Ideally, you want to time your investment when the stock’s price is low so that you can profit by selling the shares after they increase in value.

Selling Canopy Growth Corporation

When you sell any Canopy Growth Corporation shares you have bought, you’ll want to do so at a higher price than the one at which you bought to earn a profit. 

When you sell is up to you. You might decide to hold for a long period of time, hoping to benefit from the company growing steadily throughout. Or, if you see that Canopy Growth Corporation’s stock is already up a lot compared to the price you bought it and you’ve noticed that the stock market is starting to fall, it might make sense to sell and take your profits to invest elsewhere. Equally, if the stock has fallen since you bought it and looks set to fall further, it might be a good idea to cut your losses by selling your shares.

Trading Canopy Growth Corporation

Trading is the same process, it’s just done over shorter periods of time with the aim to make small profits on a regular basis. This means that you can make money faster and spend your profits in your day-to-day life – however, on the other side it means you can lose money faster as well. For inexperienced investors, we generally recommend making investments for at least 6 months to a year instead of making trades in quick succession.

You can trade Canopy Growth Corporation shares through buying and selling shares, or by trading with CFDs. These allow investors to speculate on stock prices and trade with leverage in pursuit of bigger gains. CFDs trading is explained further in the next section, but it is worth noting that beginners should avoid trading with leverage. It comes with large risks and is best left to experienced investors.

Share dealing vs CFD trading

When it comes to investing in any stock, the two options you have are share dealing and trading. Which one of these methods to opt for largely depends on your investment timeline, with investors thinking long term tending to go for share dealing, and those looking for short term gains pursuing a more aggressive trading strategy.

Here’s a quick summary of the two approaches, and the pros and cons of each.

Share dealing 

Share dealing refers to the practice of buying and holding shares in a particular company over the long term. When investing like this, you’re seeking to profit either from dividend payments or an increase in the stock’s price over time.

When investing your money this way, it is important to do a thorough fundamental analysis of the company in which you are investing. You want to put your money in a stock you believe will trend upwards over time, even if there is some market volatility along the way, rather than get distracted by shorter-term peaks and troughs.

Pros

  • Can build wealth over time to achieve financial goals
  • Don’t need to be very reactive to short-term market movements
  • Some stocks will give you an income through regular dividend payments

Cons

  • Takes a long time to realise any profits
  • Your capital is tied up in stocks and cannot be used for other investments

CFD Trading 

If your aim is to generate profits in the short term, then you might be better off trading shares than holding them in your portfolio. Stock trades like this are executed using CFDs (contracts for difference), which allow investors to trade against the value of a stock without having to take ownership of it. When CFD trading, investors are looking to buy and sell stocks fast to profit from short-term fluctuations in value.

One aspect of CFD trading that many investors find attractive is that they allow you to trade with leverage. This means you can place large trades while only putting up a fraction of the value yourself – for instance, if a platform offered leverage of 1:10, you could put £10 into WEED shares and be able to trade £100 worth. This can maximise profits if the market moves in your favour, but be careful as it can also lead to heavy losses.

When trading using CFDs, it is key to be skilled at technical analysis and reading stock price charts. As you’re trading stocks quickly and frequently, the fundamental strength of the company in which you’re investing isn’t as important as being able to predict how its stock price will rise and fall minute-by-minute.

Pros

  • Can generate fast profits if you read the market right 
  • Some platforms allow you to trade with leverage
  • Prevents your capital being tied up so you can take advantage of investment opportunities

Cons

  • Trading with leverage is risky and can lead to big losses
  • Doesn’t necessarily generate growth over the long term

Consider which approach suits you best and craft an investment strategy that works for you. If you need more information, then simply take our course on how to trade stocks.

How to choose a broker

With the wide variety of online brokers available these days, it can be hard to figure out which is the best service to go with. Our comparison table and in-depth reviews can help you cut through the noise, but by and large these are the aspects you should be considering when selecting a broker:

  • Range of stocks available. The most important thing is that you can actually use the broker to find the shares you’re looking for. Some brokers offer more stocks than others, and many will allow you to trade other assets, such as forex and commodities.
  • Fees and commissions. You want to keep as large a chunk of your profits as you can, so it’s important to make sure your broker doesn’t charge high fees that can eat into your profits.
  • Regulation. You should only use regulated brokers. Unregulated brokers can be risky and offer little to no protection if the business were to fail while you had funds in your account.
  • Payment methods available. You might want to fund your trading account using a specific payment method, such as PayPal. Not all brokers accept every payment method, but using our comparisons you can search only the brokers that support the option you’re looking for.
  • Reputation. One of the strongest indicators of a broker’s reliability is the reputation it has with the customers who have used it. Brokers are online businesses, and as such many user experiences can be found online. You can check these out in addition to our reviews to make sure you choose the right platform.
  • Customer service. As you’re going to be investing your money using the platform, you want to check that the broker offers good customer service in case you have a query or something goes wrong.

Latest Canopy Growth Corporation news

Canopy Growth Corporation (TSE: WEED) has released financial results for Q1 2021 for the period ended June 30, 2021. The company reported 23% revenue growth versus the first quarter thanks to double-digit growth in consumer product and cannabis segments partially offset by international cannabis revenue decline. Canopy reported…
Canopy Growth Corp (TSE: WEED) said on Tuesday its revenue came in lower-than-expected in the fiscal fourth quarter. Its quarterly loss also printed high than what analysts had predicted.   1. Financial performance Canopy Growth reported C$700 million (£410.62 million) of loss in the quarter that concluded on 31st…
MKM Partners gave Canopy Growth Corp (TSE: WEED) a ‘buy’ rating this week as Martha Stewart gummies continued to rapidly recruit new customers. The world’s largest pot producer expanded on its existing relationship with Stewart and brought her on board as a strategic adviser on 20th May. Martha…
Canopy Growth Corp. (TSE: WEED) said on Tuesday that its revenue in the fiscal third quarter came in better than what analysts had anticipated. Its net loss, however, was broader than expected in Q3. Canopy Growth Corp’s shares initially slid in premarket trading on Tuesday but recovered the loss…
Canopy Growth Corp (TSE: WEED) said on Monday that its loss in the fiscal second quarter came in smaller than expected. The company also reported revenue that topped analysts’ estimates.   Shares of the company opened about 13% up in the stock market on Monday but lost almost half…
Canopy Growth Corp. (TSE: WEED) said on Monday that its net loss in the fiscal first quarter contracted on an annualised basis. Its quarterly loss also came in narrower than what the analysts had anticipated. Its peer, Aphria, on the contrary, posted broader than expected quarterly loss in…

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Charlie Hancox
Financial writer
Alongside his passion for trading, Charlie has represented Great Britain and won national championships as a water polo player, and as a budding film director, has… read more.