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Canopy Growth Announces Changes to Executive Management Team PR Newswire (Canada) - 11/19/2021 8:30:00 AM
Canopy Growth Announces Changes to Executive Management Team PR Newswire (US) - 11/19/2021 8:30:00 AM
Canopy Growth Expands Premium Flower Portfolio with New Offerings across 7ACRES, 7ACRES Craft Collective, and DOJA Brands PR Newswire (Canada) - 11/17/2021 7:30:00 AM
Canopy Growth Reports Second Quarter Fiscal 2022 Financial Results PR Newswire (Canada) - 11/5/2021 7:02:00 AM
Canopy Growth Reports Second Quarter Fiscal 2022 Financial Results PR Newswire (US) - 11/5/2021 7:02:00 AM
Canopy Growth's Deep Space Brand Expands Product Offering with New 10mg THC-infused Beverage Flavour and 10mg THC-infused Deep Space XPRESS Gummies PR Newswire (Canada) - 11/3/2021 8:00:00 AM
Martha Stewart CBD Unveils New Fall Flavors and Limited-Edition Holiday Products, Expanding Portfolio of Best-In-Class CBD Wellness Offerings PR Newswire (US) - 10/28/2021 7:00:00 AM
Canopy Growth to Report Q2 2022 Financial Results on November 5, 2021 PR Newswire (Canada) - 10/22/2021 7:00:00 AM
Canopy Growth to Report Q2 2022 Financial Results on November 5, 2021 PR Newswire (US) - 10/22/2021 7:00:00 AM
Canopy Growth Announces Plan to Acquire Wana Brands, the #1 Cannabis Edibles Brand in North America PR Newswire (US) - 10/14/2021 7:00:00 AM
Canopy Growth Announces Plan to Acquire Wana Brands, the #1 Cannabis Edibles Brand in North America PR Newswire (Canada) - 10/14/2021 7:00:00 AM
Karma Beverages Launches CBD Water - Next Evolution of Premium Infused Waters Portfolio PR Newswire (US) - 10/4/2021 8:30:00 AM
Canopy Growth Announces Results of Annual General and Special Shareholder Meeting PR Newswire (US) - 9/15/2021 10:00:00 AM
Canopy Growth Announces Results of Annual General and Special Shareholder Meeting PR Newswire (Canada) - 9/15/2021 10:00:00 AM
Introducing whisl, an Innovative CBD Vape Designed to Manage Your Mood Throughout the Day PR Newswire (US) - 9/14/2021 7:30:00 AM
STORZ & BICKEL Unveils New Limited Edition VOLCANO ONYX, Enhanced CRAFTY+ and First-Ever MIGHTY+ PR Newswire (Canada) - 9/9/2021 12:00:00 PM
STORZ & BICKEL Unveils New Limited Edition VOLCANO ONYX, Enhanced CRAFTY+ and First-Ever MIGHTY+ PR Newswire (US) - 9/9/2021 12:00:00 PM
Canopy Growth To Participate In Barclays Global Consumer Staples Virtual Conference On September 8, 2021 PR Newswire (US) - 8/26/2021 7:00:00 AM
Canopy Growth To Participate In Barclays Global Consumer Staples Virtual Conference On September 8, 2021 PR Newswire (Canada) - 8/26/2021 7:00:00 AM
Canopy Growth to Hold Virtual Annual General & Special Meeting of Shareholders PR Newswire (Canada) - 8/16/2021 7:00:00 AM
Canopy Growth to Hold Virtual Annual General & Special Meeting of Shareholders PR Newswire (US) - 8/16/2021 7:00:00 AM
Canopy Growth Reports First Quarter Fiscal 2022 Financial Results PR Newswire (US) - 8/6/2021 7:00:00 AM
Canopy Growth Reports First Quarter Fiscal 2022 Financial Results PR Newswire (Canada) - 8/6/2021 7:00:00 AM
Share Your Pack, Not Your Pre-Roll: Canopy Growth Unveils New PRJ Line-Up PR Newswire (US) - 7/27/2021 8:00:00 AM
Partagez votre paquet, pas vos joints préroulés : Canopy Growth dévoile une nouvelle gamme de joints préroulés PR Newswire (Canada) - 7/27/2021 8:00:00 AM
Bonno   Wednesday, 10/06/21 09:01:02 PM
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Hey happy grab them crappy growth shares before n0ne,s left.

Canopy Growth to report weaker sales as profit hopes fade: analysts
Jeff Lagerquist
Jeff Lagerquist
Wed., October 6, 2021, 9:56 a.m.·2 min read
Analysts are taking an axe to their sales forecasts for Canopy Growth (WEED.TO)(CGC) amid fading expectations for the pot giant's goal of turning a profit within the next three quarters.

In August, the Smiths Falls, Ont.-based company said its shrinking slice of Canada's recreational market was the result of temporarily closed pot shops during the pandemic, competition from small producers with potent products, and "internal supply and execution challenges."

The reopening tailwind has been weaker than anticipated, according to BMO Capital Markets analyst Tamy Chen. She says September retail sales for Ontario, British Columbia, Alberta and Saskatchewan ticked up just three per cent on a monthly basis. Canopy's sell-through, what consumers buy from stores and online, fell 15 per cent month-over-month, according to the data sourced from HiFyre.

Chen slashed a "sizeable" $42 million from her second-quarter sales estimate for Canopy in an Oct. 4 note to clients, lowering her forecast to $130 million from $172 million. She's not alone in her pessimism. Piper Sandler analyst Michael Lavery lopped $35 million from his outlook for the quarter ended Sept. 30, dropping his estimate from $168 million to $133 million on Sept. 17. Cantor Fitzgerald analyst Pablo Zuanic called for revenue of $135 million on Sept 20.

"[Canopy] has dual headwinds in Canada, as single-strain, high-THC products, where Canopy is under-represented, are gaining share," Lavery wrote in a research note. "Pricing from intense competition for recreational use products also looks like a bigger drag than we had anticipated."

Analysts surveyed by Bloomberg expected Canopy to report $147.8 million in second-quarter sales, and an adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) loss of $47.7 million, as of Tuesday afternoon.

Canopy has promised to achieve positive adjusted EBITDA by the end of its current fiscal year. Chief financial officer Mike Lee has said $250 million in quarterly revenue is the company's "North Star . . . where profitability starts to become within the crosshairs."

"We consider [this] very difficult to achieve," Lavery wrote. "To reach Canopy's profitability target, it will need market-leading growth in its new products and require execution improvement, which was cited several times as a headwind."

Zuanic expects Canopy will not turn a profit until the June 2023 quarter (fiscal Q1 2024), and does not see the company's sales hitting $250 million in his projections through the 2024 fiscal year.

Toronto-listed Canopy shares have fallen more than 48 per cent year-to-date. The stock closed up 3.38 per cent at $16.82 per share on Tuesday.

Zuanic maintains a "neutral rating" on Canopy shares, and a price target of $21. Chen maintains a "market perform" rating, and a price target of $25. Lavery maintains a "neutral" rating, and a price target of US$15 on the company's Nasdaq-listed stock.



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