: Canopy Growth stock continues slide after big runup

Canopy Growth Corp.’s stock CGC fell about 7% in premarket trading on Wednesday on volume of two million shares, as investors continued to focus on the cannabis stock. The company said Wednesday it’ll take part in investor conferences including the ATB Capital Markets 2023 Life Sciences Institutional Investor Conference on Sept. 20 and the Benzinga Cannabis Capital Conference, on Sept. 27. In regular trading on Tuesday, Canopy Growth stock fell nearly 21% after big runups in recent sessions after the U.S. Drug Enforcement Agency said on Aug. 30 it would review the Schedule I classification of cannabis. Even with the loss, Canopy Growth stock is still up about 67% in the past five days.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.