Why Canopy Growth Stock Is Sinking Today
Shares of Canopy Growth (NYSE: CGC) were sinking 12.3% as of 11:11 a.m. EDT on Thursday. The Canadian cannabis producer announced its fiscal 2020 first-quarter results after the market closed on Wednesday. And those results were ugly.
Canopy reported that its net revenue in Q1 slipped nearly 4% from the previous quarter to 90.5 million in Canadian dollars. The company also posted a massive net loss of CA$1.28 billion, or CA$3.70 per share, the worst bottom-line performance in its history.
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Source Fool.com
