Cannabis firm Canopy Growth rallies in premarket trade on revenue growth [MarketWatch]
Canopy Growth Corporation - Common Shares (CGC)
Company Research
Source: MarketWatch
Canopy Growth's stock soars after narrower-than-expected loss, revenue beat The U.S.-listed shares of Canopy Growth Corp. CGC, -0.66% WEED, -0.54% rocketed 16% in premarket trading Friday, after the Canada-based cannabis company reported a narrower-than-expected fiscal third-quarter loss and revenue that rose above forecasts, amid strength in business-to-consumer sales. The company reported a net loss of C$124.2 million ($93.8 million), or 35 cents a share, after net income of C$74.9 million, or a loss of 38 cents on a per-share basis. That beat the FactSet consensus for a loss of 52 cents a share. Net revenue rose 49% to C$123.76 million ($93.46 million), above the FactSet consensus of C$105.0 million. Recreational business-to-business cannabis sales fell 11% to C$53.5 million. as a 42% increase in dry cannabis sales was offset by an 86% drop in oil and softgels. Recreational business-to-consumer cannabis sales increased 32% to C$15.2 million, as dry cannabis sales grew 24% and
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CGC
News
- Why Canopy Growth, Tilray, and Cronos Group Stocks Just Cratered [Yahoo! Finance]Yahoo! Finance
- Canopy Growth Stock: Expect A Crash After The High [Seeking Alpha]Seeking Alpha
- Pot stocks soar on report DEA will ease restrictions on cannabis [Yahoo! Finance]Yahoo! Finance
- Cannabis Stocks Spike Following Reports Marijuana Will Be Reclassified As Less Dangerous Drug [Forbes]Forbes
- Canadian cannabis stocks spike as U.S. reportedly set to reclassify marijuana [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
CGC
Earnings
- 2/9/24 - Miss
CGC
Sec Filings
- 4/30/24 - Form 424B3
- 4/30/24 - Form 424B3
- 4/30/24 - Form 8-K
- CGC's page on the SEC website