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. 

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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?