CA - Canopy Growth: Another Ugly Cannabis Report

2024-06-03 15:50:59 ET

Summary

• Canopy Growth Corporation's weak financial results have caused its stock to trade lower, leading to a loss of investor interest.
• The company reported another disastrous quarter with a weak adjusted gross margin, a large net loss, and negative adjusted EBITDA.
• The stock has an EV topping $1 billion, which is mismatched with the weak financial results.

After the big rally, Canopy Growth Corporation ( CGC ) is starting to trade back lower, in line with weak financial results. The Canadian cannabis LP still can't even get close to producing positive adjusted EBITDA after years of promises. My investment thesis remains Bearish on the cannabis stock as investors lose interest in the company....

For further details see: