Is Canopy Growth at Risk of Going Bankrupt?
Cannabis companies have been reporting significant losses thanks in large part to widespread COVID-19 lockdowns. Canopy Growth (NYSE: CGC), one of the largest pot producers, startled investors last week when it reported a CA$1.3 billion net loss for its fiscal fourth quarter.
Although Canopy is known for being one of the best-funded pot stocks, its enviable cash position has been rapidly declining over the past year or so. Following this significant quarterly loss, should investors be worried about a Canopy Growth bankruptcy in 2020?
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Source Fool.com
