Canopy Growth slips on earnings miss
Canopy Growth is slipping in early trading after it released a mixed-bag earnings report.
The Canadian cannabis operator reported CA$74.8 million in revenue, beating the CA$70 million analysts polled by FactSet were expecting. But Canopy Growth also reported a loss per share of CA$1.11, worse than the CA$0.53 loss per share analysts expected.
The earnings report is erasing most of the gains Canopy made in the past week as weed stocks rallied in part because of its peer, Aurora Cannabis, which reported better-than-expected earnings on Wednesday. The stock saw a spike in call activity on Wednesday, many with strike prices of $2 and $3 that expire on Friday.
The earnings report is erasing most of the gains Canopy made in the past week as weed stocks rallied in part because of its peer, Aurora Cannabis, which reported better-than-expected earnings on Wednesday. The stock saw a spike in call activity on Wednesday, many with strike prices of $2 and $3 that expire on Friday.
