Cannabis Watch: Cannabis stocks climb after Canopy posts revenue jump and Aphria uncovers conflicts [MarketWatch]
Aphria Inc. (APHA)
Last aphria inc. earnings: 4/14 09:00 pm
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Source: MarketWatch
Cannabis stocks climb after Canopy posts revenue jump and Aphria uncovers conflicts Cannabis stocks were mostly higher Friday, as investors digested earnings from Canopy Growth Corp. and the news that Aphria Inc.’s probe of acquisitions in Latin America found certain board members had conflicts. The biggest weed company by market value, Canopy CGC, +3.12% WEED, +2.50% posted a 282% rise in quarterly revenue thanks to Canadian legalization, but earnings were hit by paper losses, according to a securities filing that came late in the day on Thursday. The pot producer reported fiscal third-quarter net income of C$67.6 million ($50.9 million), compared with $C11 million in the prior year, and revenue grew to C$83.1 million, up from C$9.8 million in the year-earlier period, excluding excise taxes. Overall in the quarter, Canopy Growth said it sold 10,102 kilograms of pot and equivalents — up from just 2,250 kilos in the year-ago quarter — at an average price per gram of C$7.33, dow
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