Earnings per share (EPS) is a critical financial metric that investors use to gauge a company's profitability on a per-share basis. A negative EPS, especially one that is significantly below expectations, can lead to a decrease in investor confidence and potentially result in a decline in the stock price. Given that Canopy Growth reported a substantial loss per share, this could be seen as a negative indicator of the company's financial health and operational efficiency, likely leading to a negative short-term impact on the stock.