Monday, February 15, 2021 6:25:27 PM
Fundamentally, you are correct for the time being. Canadian MJ overpaid for assets, had significant Goodwill writeoffs, and suffered a glut of surplus supply resulting in smaller net profits.
That being said, CGC was forced to right size production to better meet demand
CGC has an opportunity to enter US market, which is much much larger than Canadian market. If/when US legalizes mj and FDA reschedules mj CGC will be in the mix.
In addition, CGC is anticipating that they will be profitable by second half of 2022
Is that a ways away? Yes. Has PPS gotten ahead of current fundamentals? Yes, but CGC filled gap last Thursday
2/9/21
https://www.cnbc.com/2021/02/09/canopy-growth-stock-surges-12percent-company-expects-a-profit-by-2022.html
Everything posted is MY OPINION! I am making NO buy or sell recommendations here! DO YOUR OWN DUE DILIGENCE!
Recent WEED News
- Roundhill Investments Surpasses $2 Billion AUM Milestone • PR Newswire (US) • 09/16/2024 12:30:00 PM
FEATURED Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM
North Bay Resources Announces Mt. Vernon Gold Mine Bulk Sample, Sierra County, California • NBRI • Sep 11, 2024 9:15 AM
One World Products Issues Shareholder Update Letter • OWPC • Sep 11, 2024 7:27 AM
Kona Gold Beverage Inc. Reports $1.225 Million in Revenue and $133,000 Net Profit for the Quarter • KGKG • Sep 10, 2024 1:30 PM