ACRGF - Canopy Growth: Hurting By Leadership Void
Welcome to our Cannabis Earnings series where we break down the latest earnings to help you focus on the most important topics.
Introduction
Canopy Growth (CGC) reported its fiscal 2020 first-quarter results last week, and investors were rattled by the disappointing quarter. The company continues to lose market share in Canada, while international markets remain too small to be mentioned. More importantly, the company is suffering from significant uncertainty due to the leadership void. We are reducing Canopy to neutral from our long-held bullishness, given its recent stumbles. Of course, we are not