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It's official. AC# has now surpassed this POS in price big time. Never thought I'd see that.
The company says the board is in the process of hiring a firm to avoid a bankruptcy ?
we are at a critical point .... the volume will be lower and lover every day , the price steady down --- I see a dead cat without hope
you cannot artificially maintain the price forever ...
Klein’s growing moldy bunk days are over…
Canopy Growth Announces CEO Succession Plan
Doomed
August 16, 2024
ImageCanopy Growth Announces CEO Succession Plan
Canopy Growth Announces CEO David Klein’s Retirement After Transformative Tenure, Search for New Leadership Begins as Company Focuses on Continued Growth and Profitability.
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) announced today that CEO David Klein will be retiring at the end of the company’s fiscal year on March 31, 2025. Until a successor is named, Klein will continue in his role, focusing on advancing Canopy Growth’s strategic objectives, including profitability, and ensuring a smooth transition for the incoming CEO. The Board has initiated a comprehensive search process to identify a candidate with the skills and experience needed to lead the company into its next phase of growth.
Klein, who joined Canopy Growth in January 2020, has been pivotal in transforming the company into a leaner, more focused organization🤣.
Under his leadership, Canopy Growth adopted an asset-light model in Canada and international markets, including Germany, and launched Canopy USA, giving shareholders unique exposure to the U.S. cannabis market ahead of federal legalization. His tenure is marked by the recent first-quarter results for fiscal year 2025, which showed a 67% increase in gross profit year-over-year and a consolidated gross margin of 35%, reflecting the company’s improved financial position.
Klein expressed his gratitude to the Canopy Growth team and shareholders, emphasizing his commitment to driving the company toward profitability in his remaining months. He stated that his experience at Canopy Growth has reinforced his belief in the power of cannabis to improve lives and that he is confident in the company’s future.
David Lazzarato, Chairman of the Board, praised Klein’s leadership, noting his instrumental role in the company’s transformation and the establishment of Canopy USA. The Board remains committed to appointing a new CEO who will continue to drive Crappy Growth’s ambitious vision, ensuring that the company remains a leader in the global cannabis market.
This leadership transition comes at a crucial time for Canopy Growth as it continues to strengthen its position in the competitive cannabis industry.😂
i do not think ... it will hold long ..
Canaccord Genuity has taken a more pessimistic stance by downgrading its target price for Canopy Growth to $3.5 from $5 and maintained a “Sell” rating. This significant reduction in target price suggests Canaccord Genuity’s concerns about the company’s near-term prospects and its ability to overcome industry challenges. The “Sell” rating indicates a belief that the stock may underperform relative to broader market expectations.
THE GLOBE AND MAIL
Cannabis firm Canopy Growth reports $127.1-million first-quarter loss, revenue down from year ago
Revenue for the first quarter of Canopy’s 2025 financial year totalled $75.8-million, down from $88.6-million in the same quarter last year
AUGUST 9, 2024
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do you like it ? .... we witness an agony ,
I see desperation .... some caught people try to sell , idiots buy .... you still can make money on CGC playing daily but this is not for everybody ,
Just realized a*b is now more than cgc in stock price. This isn't looking too good here
CGC is a joke ... it cuts a loss a bit ... only because its revenue is smaller
It is becoming increasingly clear that Mr. Klein has a real problem driving investor value. Everything from a reverse stock split to continuous quarterly reports missing projection and more alarmingly ongoing degradation in top line revenue. Equally alarming is that he apparently has not cracked the code to driving performance or value based results that bode well for investor confidence. He has to go and be replaced with a full on turn around CEO.
what to expect tomorrow after opening ? .... the loss will be huge in millions , after opening , the price will go up ( manipulations ) for a day or two and than ...
hold the handrail , back to $5/sh ..
nice chart today :))))
hold handrails on Friday ... another day of big loss !
And all of that comes amid a global market meltdown. Japan’s Nikkei 225 index nosedived 12% — its worst rout in history.
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look for a handrails !
0.25$ DOWN with a Government licence to grow and sell bunk weed.
Where is Bruce?
-0.25
They have a licence to sell weed but they simply cannot get it together.
Reminds me of a weird fat & yellow smelly guy who losing it completely.
Lol.
Suits.
CGC is expected to release earnings on August 9, 2024 before the market opens (BMO)
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what does it mean " before the market opens " ? .... the answer is simple - very bad earning , CGC management hopes that there is not enough time for idiots to realise how bad the earning is ..... and for a while CGC can flow ...
Happyglass wants Linton to come back and save the day… Linton as been growing in his garage and he thinks that he is better at it now… we will see.
each daily chart is so ugly ! .... first class manipulation ,
it is so hard to watch at .... when smart foxes make tonnes of $ and at the same time ordinary people lose everything
Canopy Gwth: Stocks Overvalued by Analyst Consensus on TSX (WEED)
Globe Investor - AI-generated - The Globe and Mail - Sat Jul 20, 7:27PM CDT
Canopy Growth Corp is among the group of overvalued stocks on the Toronto Stock Exchange. This means the consensus value for each stock on this list is below its current price.
Based on 10.00 analysts, Canopy Growth Corp gets an average recommendation of "Moderate Sell" according to Zacks. From those 10 analysts, 1 have buy ratings, 5 have sell ratings and 4 analysts gave hold ratings.
this sick stock is good for everybody but .... idiots
I said the same thing here in 2016, just after patients won the legal right too grow cannabis on property, same year the stockmarket weed executives started collecting investors money and telling a tale on how rich they will make you. while these CEOs are extorting medical patients/growers with threats of arrest. Wish you listened?
RCMP went silent about massive pot bust over concern for marijuana producer’s stock price, documents reveal
There were also concerns the release of information could embarrass Health Canada and expose 'deficiencies' in new medical marijuana regulations
https://nationalpost.com/news/canada/rcmp-went-silent-about-massive-pot-bust-over-concern-for-marijuana-producers-stock-price-documents-reveal
This thing is a huge scam. All of these pot companies are. None of them make any money and never will. But they are all good at selling shares.
at each financial statement CGC management says the same .... " in order to achieve a profit we bla , bla, bla " ...............and no change ! this company is a joke
Canopy Growth Corporation Common Shares is estimated to report earnings on 08/14/2024. The upcoming earnings date is derived from an algorithm based on a company's historical reporting dates. Our vendor, Zacks Investment Research, might revise this date in the future, once the company announces the actual earnings date. According to Zacks Investment Research, based on 6 analysts' forecasts, the consensus EPS forecast for the quarter is $-0.32. The reported EPS for the same quarter last year was $-0.4.
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so we will see another big loss of millions of $ ...
nice manipulation , good for idiots !
Home / Cultivation
Judge keeps Alabama medical marijuana licensing on hold
By Doomed
July 8, 2024
An Alabama judge has extended a temporary restraining order on the issuance of medical marijuana business licenses in yet another delay to the market’s launch.
Montgomery County Circuit Judge James Anderson, according to the Alabama Reflector, also instructed the state’s Medical Cannabis Commission to begin investigative hearings requested by companies denied licenses in the previous round.
The restraining order was pushed by Alabama Always, an MMJ company seeking one of the state’s vertically integrated licenses.
Last December, Alabama regulators issued five integrated licenses to MMJ companies, including:
Flowerwood Medical Cannabis.
Specialty Medical Products of Alabama.
Sustainable Alabama.
Trulieve AL.
Wagon Trail Med-Serv.
The application and selection process for those integrated licenses sparked lawsuits after the state’s first two attempts to issue them.
A judge blocked a third round of MMJ licensing in January after noting “a serious question” as to whether it “is also invalid.”
Meanwhile, more than three years have passed since the governor signed into law the Alabama Compassionate Act, which allowed MMJ products for patients suffering from a host of chronic health issues.
do not forget ... price $8.64 means - 86 cents before reverse split , the end is coming sooner than you think ,
I do not see green lights.... even at the end of the tunnel
Our only hope is with nsssrr5 and Happy-glass scarfing up every existing shares. They are saving the day! We own them…
Scaling mold on one million square feet.
Way to go!
We will all be rich with this licence to grow and sell moldy bunk!
We are maga. Trump won and Bruce is the man.
MEDICAL CANNABIS NEWS RECREATIONAL MARIJUANA NEWS CANNABIS JOBS
Republicans use Cannabis smell complaints as ‘excuse’ to oppose legalization, advocates say
Posted July 2, 2024 on The Guardian
ImageRepublicans use Cannabis smell complaints as ‘excuse’ to oppose legalization, advocates say
Norml argues lawmakers exaggerate scent complaints to support policies banning public use of marijuana.
Some Republican lawmakers, including Florida governor Ron DeSantis, say that the now-public consumption of marijuana is a nuisance to people who don’t like the smell and a quality-of-life issue.
Meanwhile, advocates of marijuana legalization argue that lawmakers are exaggerating the scale of the problem and using the smell issue as a smoke screen for their actual gripe: cannabis should not be legal.
Earlier this month, Mike, a 52-year-old maintenance worker, sat on a bench at Herbert Von King Park in Brooklyn, smoking a blunt.
“I’ve been doing it for so long, I don’t even smoke to get high,” said Mike, a Brooklyn native who has smoked since he was about 11 years old and declined to give his last name.
Perhaps only one thing about Mike’s marijuana consumption has changed in recent years: In 2021, New York approved adult use of cannabis, which has meant that, like in other states where it’s legal, he and others now smoke the drug openly.
Stroll down a sidewalk in many cities, and you just might catch a whiff of Acapulco Gold. (Or sometimes, on highways and in more rural areas, it really is just a skunk.)
“I enjoy being able to sit down and smoke outside, with the police walking by not saying anything. I don’t want to be someplace where there shouldn’t be any weed smoking, but you’re smoking it just because you can,” Mike said.
Paul Armentano, deputy director of the National Organization for the Reformation of Marijuana Laws (Norml), says that the lawmakers “making the most noise” about people like Mike “are people who oppose changing marijuana policies to begin with, and they are just looking for a convenient excuse to support that position”.
In recent years, twenty-four states and the District of Columbia have legalized recreational use of cannabis, and 14 others have approved it for medical use, according to the Pew Research Center.
Among the states that have legalized recreational use, New York is the only one that does not punish public usage, according to Norml.
“New York happens to be the media capital world, so this is a story that you hear about nationwide. Even though this is largely not even just a New York phenomenon, this is a New York City phenomenon,” Armentano said.
While people in other cities and states have mentioned – and in some cases, complained – about the marijuana smell, much of the attention appears to be focused on New York. A brief Google News search of “public”, “cannabis” and “smell”, yields a majority of stories concerning the Big Apple.
For New Yorkers, the smell may be the least of their problems when it comes to cannabis: implementation of its adult-use program has been widely hailed as “botched” and the governor herself even declared it a “disaster”.
Michael Novakhov, a Republican state assemblyman who represents parts of Brooklyn, said he has nothing against people consuming marijuana but has heard from constituents who don’t want their children exposed to it. Last year, he proposed legislation that would have prohibited the public use of cannabis unless approved by the local government. That and the state senate version did not make it out of committee.
Notably, many apartments in New York do not allow smoking or have balconies or patios. Novakhov said he would like to see people establish cannabis lounges like in other states.
The state has not issued any on-site consumption licenses because officials have not established regulations for such businesses, and they do not have a date by which they expect to do so, according to the Office of Cannabis Management.
“We have a great example in how people consume alcohol, which is bars, and I think [cannabis] should be in certain bars and places where people can buy and consume,” Novakhov said.
People can, of course, also consume alcohol at home, whereas that is more difficult with cannabis. Novakhov would like to see people who would illegally use cannabis in public fined, not arrested.
Norml also generally supports public cannabis consumption as “being a civil violation, very similar to the way alcohol is treated”, Armentano said.
In Florida, DeSantis has said he opposes a ballot measure to legalize recreational marijuana because of the smell and has claimed people would be “able to bring 20 joints to an elementary school”.
Armentano argues that since Florida already allows medical marijuana, little would change as far as public consumption.
He doesn’t think “you will see people smoking marijuana everywhere. If that was the case, that would be [happening] now in Florida.”
“Legalization didn’t create marijuana, and it certainly didn’t create the public use of marijuana,” he continued.
Still, Mike, the lifelong cannabis consumer, said he has always avoided smoking in front of kids because he knows he “was a guy who they were influenced by”.
Now, he sees people rolling joints and smoking on subways and near playgrounds.
“I like smoking weed,” he said, “but I’m turned off by the way some people are doing it”.
yes ! .... I do not see any green lights .... how to pay back huge debt ? .... banks will say soon - enough !
Home » Investing » Can Canopy Growth Stock Finally Recover in 2024?
Can Canopy Growth Stock Finally Recover in 2024?
Down 98% from all-time highs, Canopy Growth remains a high-risk investment in 2024 given its weak fundamentals.
Published June 27, 4:40 pm EDT
After touching all-time highs in October 2018, shares of Canopy Growth (TSX:WEED) currently trade 98.6% below record levels. Investor optimism was at its peak when Canada legalized marijuana for recreational use in October 2018. However, since then, the Canadian cannabis sector has been wrestling with industry-wide headwinds ranging from rising competition and oversupply of cannabis products to high inventory levels, bunk products and negative profit margins.
In order to support their high cash-burn rates, several marijuana producers were forced to raise equity capital several times, diluting existing shareholder wealth significantly. Additionally, several established players, including Canopy Growth, acquired companies at a hefty premium to gain market share and expand their manufacturing capabilities. In the last few years, these overvalued acquisitions compelled cannabis producers to write down goodwill impairments that totalled billions of dollars.
Valued at a market cap of $911 million, Canopy Growth stock has burnt massive investor wealth in recent years. Let’s see if the cannabis stock stages a recovery in 2024.
Canopy Growth continues to struggle
In fiscal 2024 (ended in March), Canopy Growth reported a net loss of $675.8 million, while its sales totalled $297.1 million. In fact, the company’s operating losses of $309.6 million were higher than its sales, which indicates it is nowhere close to profitability.
Now, investors generally invest in unprofitable companies as they hope steady top-line growth will improve economies of scale over time. However, in the fiscal fourth quarter (Q4) of 2024, Canopy Growth increased its sales by just 7% year over year to $72.8 million.
While Canopy has narrowed its losses, its cash outflow totalled $282 million in 2024, compared to an outflow of $557.5 million in 2023. With $206 million in balance sheet cash, Canopy Growth would have to raise equity capital within the next 12 months.
Will the U.S. offer a comeback opportunity?
Cannabis stocks, including Canopy Growth, have gained momentum in 2024 due to the prospect of marijuana legalization in the United States. Shares of Canopy Growth have risen by 40% year to date as the U.S. is all set to declassify marijuana as a Schedule I drug.
To gain a foothold in the world’s largest cannabis market, Canopy Growth created a special-purpose vehicle called Canopy USA. While the two entities are currently separate, they are likely to merge if and when the U.S. government legalizes pot at the federal level.
Canopy USA has already acquired companies such as Acreage Holdings, Jetty Extracts, and Wana Brands and is focused on consolidating these assets to benefit from cost synergies and operational efficiencies.
The prospect of legalization might seem compelling to investors. However, Canopy Growth will still need to compete with established multi-state operators such as Green Thumb and Cresco Labs, which have a sizeable presence in several regions. Moreover, Green Thumb reports a consistent profit and is free cash flow positive, making it a much better investment option right now.
Biggest hurdle is the poor quality cannabis products and their high cost.
Why legal Weed is one of the most successful — yet disappointing — social movements
Posted June 26, 2024 on Los Angeles Times
Cannabis prohibition remains central to America’s failed war on drugs — upwards of half a million people were arrested for a cannabis offense in the U.S. in 2018, accounting for more than 43 % of all drug arrests.
But times are changing: Cannabis reform is one of the most successful social movements in recent memory. Today, 24 states and Washington, D.C. allow cannabis for adult use. Although the drug remains prohibited at the federal level, the Biden administration recently began the process of reclassifying cannabis as a less dangerous substance (going from Schedule I to Schedule III). This will dramatically loosen federal restrictions on the U.S. cannabis industry, which is forecast to generate more than $30 billion in retail sales in 2024.
Yet legal cannabis has been something of a disappointment. High barriers to entry prevent many small business owners from breaking into the industry. A 2023 survey found that less than 25% of U.S. cannabis businesses are profitable, with most of the money going to a small group of large multi-state corporate operators led by predominantly white ownership groups. A 2021 report found that less than 2% of U.S. cannabis business owners are Black.
These are the somewhat predictable outcomes of concessions cannabis activists made to the business community. States that have yet to pursue legal cannabis should take heed of the dangers of these compromises, or they will end up replicating the very power dynamics that legalization was supposed to disrupt. To make matters worse, legit cannabis is considered bunk…
Equity has always been a priority for some legal cannabis activists. Washington state legalized cannabis for adult use in 2012 with a law drafted by a small team of local activists and supported by the American Civil Liberties Union. Advocates were primarily concerned with protecting small independent operators, including protections such as residency requirements for cannabis license holders, caps on the number of licenses owned and tight limits on the amount of “canopy” a cannabis cultivator was permitted to grow. This has allowed small operators to gain a larger share of the market in Washington than in other states.
But by the time California legalized cannabis in 2016, corporations had come to realize the enormous profit potential of legal weed. Local activists spent years drafting a progressive legalization initiative in California that included many of the same protections implemented in Washington. This effort was backed by prominent national cannabis advocacy groups such as the Drug Policy Alliance and the Marijuana Policy Project. Before they could qualify their amendment for the ballot, however, Silicon Valley billionaire Sean Parker backed another legalization campaign with $8.5 million of his own money. Some groups pulled funding from the older draft legislation and pressured local activists to support the new, better-resourced campaign instead, which led to a more business-friendly bill without residency requirements or license caps.
In other states, activists have tried to develop consumer- and patient-focused legalization bills. Michigan’s cannabis industry, for example, enjoys relatively low barriers to entry, making it easier for small operators to establish themselves, increasing competition and lowering costs for consumers. This came about only because local activists resisted corporate influence. In the run-up to the 2018 Michigan campaign, they were pressured to draft a business-friendly cannabis legalization bill by national groups and corporate donors seeking the same types of market advantages enjoyed in California. They bucked the pressure and as a result lost a considerable amount of financial support; on average, pro-legalization ballot measure campaigns outraise their opponents by more than 400%, but in Michigan campaign spending was much closer. Voter still overwhelmingly supported the bill.
Even so, Michigan has struggled with one of the most stubborn challenges of legalization: racial equity. A 2021 study found that just about 3.8% of cannabis business owners in Michigan were Black and only around 1.5% were Latino.
Some states have been experimenting with ways to address these concerns, with mixed results. In 2019 Illinois became the first state to build specific racial equity provisions into its cannabis law, creating a social equity applicant system, providing technical and financial assistance to first-time business owners and distributing 25% of cannabis tax receipts to communities disproportionately affected by the war on drugs. A recent report estimates that 27% of legal cannabis business owners in Illinois are Black — but only 5% identify as Latino, and 3% as Asian.
New York’s cannabis law, passed in 2021, followed in Illinois’ footsteps and has been hailed as the most progressive cannabis law instituted, with a goal of awarding at least 50% of its cannabis licenses to equity applicants. But delivering on that promise has so far proved elusive. After the New York cannabis market gained momentum this year, the initial results have been disappointing for equity advocates.
Still, these more progressive laws make achieving equity easier. Among the biggest barriers for people of color seeking to enter the industry are excessive regulations and fees, which tend to disproportionately affect small operators. Passing reforms has been challenging because stakeholders that benefit from the current system fight hard to protect their piece of the market, even when the regulations they are protecting make little practical sense.
And the reforms that make it face an uphill battle. In Washington, activists finally passed reforms designed to help equity applicants succeed in the cannabis industry in 2020, eight years after marijuana was legalized in that state. Yet in recent years, the percentage of the state’s cannabis business owners who are Black has been stuck at 4%.
It may be too late to prevent corporate domination of the cannabis industry. The California market is already showing the effects of consolidation: The number of cannabis licenses in the state has fallen from a high of 18,000 to 4,000. Where Californians once had about 6,000 cannabis brands to choose from, now only 1,600 are sold legally in the state. A 2022 L.A. Times analysis found that the 10 companies with the largest growing operations in California hold 22% of the state’s cultivation licenses.
But the beer industry suggests it is possible to secure more for the small operators who are more likely to be people of color. Independently operated craft breweries have grown their market share, hitting the small but significant level of 13% in 2021.
If legal cannabis isn’t pushed in a more diverse and progressive direction, it will fail to deliver the social change that motivated many activists to pursue it in the proper manner.
“Trump Media is probably more appropriately valued close to $40 million rather than several billion,” Hoffman said. “Truth Social is burning through hundreds of millions of dollars with nothing to show for it in user engagement, user growth or even potential revenue.”
close to my house in Ottawa there is the weed store called " Spiritleafe " ... and I always ask how popular are CGC products , believe me or not . the answer is always the same : NO DEMAND ....
Yup! Doomed from the start! Growing at scale was the magic slogan. Say what? Growing at scale is growing mold at scale. So quality is bad… how about prices? They cannot compete with grey market. Internet cannabis stores to the rescue.
people who are called " day- traders " cannot manipulate as easy as before .... volume is too small and it means that profit is not easy to achieve
.... result ? the price will be going down slowly but steady until $0.50
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