Pot Giant, Canopy, Continues Divestiture Spree, Sells 5th Asset Since April
Portfolio Pulse from Vuk Zdinjak
Canopy Growth Corporation has sold its fifth facility since April 2023, generating proceeds of $61 million. The company anticipates a total of $150 million from facility divestitures by September 30, 2023. The divestitures are part of the company's transformation to an asset-light, North American focused cannabis business and aim to improve liquidity and support the path to profitability.
June 29, 2023 | 12:40 pm
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Canopy Growth Corporation's divestiture strategy is aimed at improving liquidity and profitability. The sale of the fifth facility since April 2023 has generated $61 million, with a target of $150 million by September 2023.
The divestiture strategy of Canopy Growth Corporation is aimed at improving liquidity and profitability. The sale of the fifth facility since April 2023 has generated $61 million, indicating a positive impact on the company's financial position. The company's target of $150 million by September 2023 suggests a continued focus on this strategy, which is likely to have a positive impact on the stock in the short term.
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