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Canopy Growth 1Q Loss Narrows Sharply Amid Cost-Cutting Efforts

By Denny Jacob Canopy Growth reduced its loss in the latest quarter as it continued to work on bringing down costs. The Smiths Falls, Ontario-based cannabis. ....

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Canopy Growth 4Q Loss Widens, Revenue Declines

By Denny Jacob Canopy Growth reported a wider loss and a decline in revenue in the latest quarter. The medical cannabis producer loss widened to 640.1. ....

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Cannabis News Week: Brittney Griner Caught in the Middle

Brittney Griner received a nine-year sentence from a Russian court for cannabis-oil possession. ....

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Pot grower Canopy sees end to cash burn as cost-cuts sow profit seeds

By Reuters Staff
2 Min Read
(Reuters) - Canopy Growth Corp, the world’s largest pot producer, said on Tuesday it expects to turn a profit in the second half of 2022 after aggressive cost-cutting and higher demand for cannabis helped narrow third-quarter losses.
FILE PHOTO: A sign featuring Canopy Growth Corporation s logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018. REUTERS/Chris Wattie/File Photo
Canadian pot producers have been under pressure from investors as profits remain elusive due to oversupply crimping sales in Canada and overseas expansion bets turning sour.
Canopy said it expects to generate cash by fiscal 2024 and become operating cash flow positive a year before that, soothing market worries on profitability and sending its shares up as much as 12%. ....

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