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Cannabis Stock Canopy Growth Playing With the Big Boys, up Midday

Investing.com

Investing.com - The green weed is in and the yellow metal is out.

Shares of cannabis company Canopy Growth (NYSE:CGC) jumped in midday trading on news that it would enter the S&P/TSX 60 index, replacing Goldcorp (NYSE:GG).

The stock rose 5.5%.

Canopy Growth will be the first cannabis company in the index, which comprises 60 large-cap Canadian companies.

Goldcorp, which is being replaced in the index because it is being acquired by Newmont Mining (NYSE:NEM), was up 0.4%%.

The move will be effective the start of trading April 18.

Among other cannabis stocks, Cronos Group (NASDAQ:CRON) rose 3.5%, while Tilray (NASDAQ:TLRY) gained 1%.

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