ACB - Canopy Growth leads Canadian cannabis stocks higher after Q3 earnings

Canopy Growth (NASDAQ:CGC) has sparked an uptick in the shares of other Canadian licensed producers in the pre-market on Wednesday after posting better than expected financials for Q3 fiscal 2022. Despite a ~7% YoY decline in net revenue, Canopy (CGC) managed to narrow its net loss by as much as ~86% from the prior-year period when there were material non-cash asset impairment and restructuring charges. However, the market has well received the Q3 print, and Canopy (CGC) shares have added ~7% in the pre-market. Tilray (NASDAQ:TLRY), Cronos (NASDAQ:CRON), and Aurora Cannabis (NASDAQ:ACB) are also among notable gainers after adding ~3%, ~2%, and ~3%, respectively. However, the U.S. Multi-State Operators are currently trading lower on low volumes. Meanwhile, Sundial Growers (NASDAQ:SNDL) has extended its post-market gains with a rise of ~9% after the company announced an extension to regain compliance with the minimum bid price requirement on Nasdaq. On Wednesday, Tilray (TLRY) announced that its subsidiary SweetWater Brewing

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Canopy Growth leads Canadian cannabis stocks higher after Q3 earnings