Canopy Growth Q1 Revenue Drops 13% YoY, Reports Wider Net Loss
Portfolio Pulse from Jelena Martinovic
Canopy Growth Corporation (NASDAQ: CGC) reported a 13% YoY decline in Q1 revenue and a wider net loss. Despite this, the company saw a record quarter for Canadian medical marijuana and is expanding in the U.S. market. Shares traded 8.38% lower following the announcement.
August 09, 2024 | 2:09 pm
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Canopy Growth Corporation reported a 13% YoY decline in Q1 revenue and a wider net loss. Despite positive growth in Canadian medical marijuana and U.S. expansion efforts, the stock traded 8.38% lower.
The significant decline in revenue and wider net loss overshadowed the positive aspects of the report, such as growth in Canadian medical marijuana and U.S. expansion. This led to an 8.38% drop in the stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100