E Canopy Growth Q3 Results Reveal Eye-Popping Net Loss Of $829M

Management Comments:

  • David Klein, CEO, said: "...We are building a track record of winning in our core markets, while also accelerating our U.S. growth strategy with the momentum building behind the promising cannabis reform in the U.S."
  • Mike Lee, CFO, added: "We are executing against our cost savings program, with several initiatives already completed and more underway to build a leaner and more agile business...[and] these cost savings, along with our top-line growth and continued cost discipline, puts Canopy firmly on a path to achieve profitability during Fiscal 2022, with further improvement anticipated beyond."

Stock Performance

As can be seen in the chart below Canopy Growth's stock price has been on a tear since the beginning of the year (up 78%) with no sign of it slowing down (+9.5% since the beginning of February) despite the poor Q3, 2021 financial results. 

1 2 3
View single page >> |

Visit  munKNEE.com and register to receive our free Market Intelligence Report newsletter (sample  more

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
William K. 1 month ago Member's comment

Was that an actual loss, or was $829m an estimate of the profit that should have been made, but instead was less than what was guessed?