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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (152581)	6/23/2023 8:38:52 AM
From: Goose94	Read Replies (1) of 202167

Canopy Growth (WEED-T) Growth Posts $648 Million Net Loss The hits just keep coming for what was once the Canadian cannabis industry’s flag bearer, with Canopy Growth posting a $648 million net loss in the fourth quarter. The company says that loss – an increase of $59 million from the same period a year ago – was driven by an increase in asset impairments and restructuring costs, which were partially offset by higher gross margins. If you zoom out for a moment to look at the full fiscal year, things are a bit more eye-popping, with the company posting a $3.3-billion net loss. It’s just another reminder of the carnage wrought in the once high-flying cannabis industry, which after some early euphoria has been beset by production overcapacity and a miss estimation of demand. BNN.ca

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