Canopy Growth Corp.'s stock slid 4% early Thursday, after the Canadian cannabis company said it has set up a $250 million at-the-market equity offering.
Zacks.com users have recently been watching Canopy Growth (CGC) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Canopy Growth (NASDAQ: CGC ) is a premier Canadian cannabis company. Granted, Canopy Growth isn't in perfect financial condition.
Canopy Growth Corporation NASDAQ: CGC is a leading producer and distributor of cannabis and cannabis-derived products. Canopy Growth's earnings report for the fourth quarter and fiscal year was released, revealing a company actively adapting its strategies to address evolving market dynamics.
Canopy Growth Corporation (NASDAQ:CGC ) Q4 2024 Results Conference Call May 30, 2024 10:00 AM ET Company Participants Tyler Burns - Director, IR David Klein - CEO Judy Hong - CFO Conference Call Participants Aaron Grey - Alliance Global John Zamparo - CIBC Yewon Kang - Canaccord Genuity Pablo Zuanic - Zuanic & Associates Operator Good morning. My name is Joanna, and I will be your conference operator today.
Canopy Growth Corporation (TSX:WEED, NYSE:CGC) shares added almost 8% after the cannabis operator impressed investors with its fiscal fourth quarter earnings, boosted by strength in its international segment and vaporization business Storz & Bickel. For the quarter ended March 31, 2024, revenue grew 7% year-over-year to $72.8 million.
Canopy Growth Corporation (CGC) came out with a quarterly loss of $0.28 per share versus the Zacks Consensus Estimate of a loss of $0.33. This compares to loss of $2.30 per share a year ago.
Canopy Growth Corp.'s stock CGC, was up fractionally in premarket trading on Thursday after the Canadian cannabis company reported a lower loss on higher revenue and lower expenses. Canopy Growth's fourth-quarter loss narrowed to C$92.3 million, or C$1.03 a share, from C$640.1 million, or C$12.83 a share, in the year-ago quarter.
Canopy Growth's (CGC) rightsized cannabis-focused business is a major foundation for growth.
In the closing of the recent trading day, Canopy Growth Corporation (CGC) stood at $9.18, denoting a +0.77% change from the preceding trading day.
Canopy Growth (CGC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Canopy Growth Corporation (CGC) concluded the recent trading session at $10.85, signifying a -1.36% move from its prior day's close.