What's Going On With Canopy Growth (CGC) Stock
Portfolio Pulse from Henry Khederian
Canopy Growth Corp (CGC) shares are trading higher by 8.66% after the company reported worse-than-expected Q4 financial results. The company reported losses of 24 cents per share, missing the analyst consensus estimate of a loss of 15 cents. Quarterly sales were $72.61 million, slightly below the analyst consensus estimate of $73.19 million.
June 26, 2023 | 2:16 pm
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Canopy Growth Corp's stock is trading higher by 8.66% after reporting worse-than-expected Q4 financial results. The company reported losses of 24 cents per share and sales of $72.61 million.
Despite reporting worse-than-expected Q4 financial results, Canopy Growth Corp's stock is trading higher by 8.66%. The market may be reacting positively to the company's strategic measures, such as divestiture of national cannabis retail operations and adopting a third-party sourcing model, which reduced expenses by $125 million.
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IMPORTANCE 80
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