Does Cgc look like short squeeze?

**Canopy Growth (CGC) does not currently exhibit strong indicators of a short squeeze.** Here's why: 1. **Technical Indicators**: The stock's technical indicators such as MACD and RSI do not suggest a short squeeze. The MACD is at -0.25, indicating bearish momentum, and the RSI is at 30.98, which is close to the oversold threshold, suggesting that the stock may be undervalued but not indicating a short squeeze. |Ticker|Name|RSI|MACD|KDJ|Date|code|market_code| |---|---|---|---|---|---|---|---| |CGC.O|Canopy Growth|30.9839|-0.2453|43.0304|20240614|CGC|185| 2. **Short Interest and Ratio**: The short interest as a percentage of the company's float is at about 15%, which is considered high but does not necessarily indicate a short squeeze. The short interest ratio, or days to cover short interest, is 1.0, which is within the range of 1 to 4 that typically indicates strong positive sentiment and a lack of short sellers. However, a ratio below 10 is generally considered to indicate a lack of short interest, so this is not a strong indicator of a short squeeze. |Ticker|Name|Estimate Revenue|Average Price Target|Date|code|market_code| |---|---|---|---|---|---|---| |CGC.O|Canopy Growth|||20240614|CGC|185| |CGC.O|Canopy Growth|||20240630|CGC|185| 3. **Market Sentiment**: The sentiment around cannabis rescheduling and legalization in the U.S. market, along with Canopy Growth's plans to enter the U.S. cannabis market, have been mentioned as potential factors contributing to short squeeze interest. However, this does not necessarily mean that a short squeeze is imminent or guaranteed. 4. **Financial Health**: Canopy Growth's financial health, including its price-to-earnings (P/E) ratio of -1.15, price-to-sales (P/S) ratio of 2.51, and price-to-book (P/B) ratio of 1.49, does not provide a clear indication of a short squeeze. The negative P/E ratio suggests that the company is not currently profitable, which may deter short sellers. 5. **Institutional Activity**: Institutional investors have reported short positions in Canopy Growth, including Walleye Trading LLC, Jane Street Group LLC, SIG North Trading ULC, Concourse Financial Group Securities Inc., and Simplex Trading LLC. This presence of institutional short sellers does not typically suggest a short squeeze. In conclusion, while there are some positive signs for Canopy Growth, such as the potential for increased short interest due to market dynamics and strategic company developments, the current technical indicators and financial metrics do not strongly suggest a short squeeze. Investors should monitor the situation closely for any changes that may indicate a potential short squeeze.