Canopy stock slumps after earnings show no initial boost from Canada legalization

This whole mess wouldn't have happened if the media had done its job. We've been saying for years that most LPs don't even produce very good cannabis, and that few produce enough for the few thousand patients they serve each. They obviously couldn't possibly provide enough product for the rec market. The idea that they would have exclusive rights to legal cannabis production almost seems like a cruel joke when one remembers that straying from the government's framework, even as a consumer, can land one stiff penalties.

Linton’s comments came as the Smiths Falls, Ont.-based Canopy reported a $330.6 million net loss in its second quarter that amounted to $1.52 per share, compared with a loss of $1.6 million in the same period last year. The company said revenue amounted to $23.3 million in the quarter ended Sept. 30, well short of the $59.1 million average analyst expectation.
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The company said it sold 2,197 kilograms of pot at an average price of $9.87 a gram in the quarter, up from 2,020 kilograms at $7.99 a year earlier."





gotta love to chuckle eh ..

I have a Tweed shirt that I got with my first and only order from them. I should go to one of those graphics design place and add a S-H-I on there. Or I could use it to wipe off the dipstick when I check my oil.

Farmer.J said:

I have a Tweed shirt that I got with my first and only order from them. I should go to one of those graphics design place and add a S-H-I on there. Or I could use it to wipe off the dipstick when I check my oil.

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Funny you should say that ... I do maintenance on screen printing machines for some buddies of mine and I'm quite positive they'd be down to do a run of shirts