Bonno· May 27, 2022·Canopy growth reported a 4th quarter loss of $578 million, bringing cumulative losses to $4.1 BILLION since 2015.
Revenue crashed, and I mean CRASHED from precious quarter, way below street expectations, to $111 million.
Canopy, Aurora & Hexo have lost a combined $11 BILLION in their collective attempts to sell legal recreational cannabis.
Wall Street/Bay Street have lost billions of dollars in their futile attempts to back successful cannabis businesses.
Americans: if Wall St does in the US after legalization what it did in Canada after legalization, you are in deep shit.
At end of the call, CEO of canadian cannabis company canopy says something about enjoying cannabis beverages over the upcoming memorial day long weekend.
Except that YOU CAN'T BUY canopy's thc cannabis beverages in the united states, and canada doesn't celebrate 'memorial day'.
Still waiting to see if Canopy reached into Canadian taxpayers pockets again for more free money.
Part of the Canadian government's $100 billion covid cash giveaway to corporations, which at the very least needs an inquiry so some can be recouped.
Compared to last quarter, Canopy's
—Net sales are down 21% to $111.8
—Global cannabis net sales down 21% to $66 million
—Canada rec cannabis sales down 19% to $39 million
—Canada med cannabis sales down 2% to $13 million
This is hard to believe, but there it is.
Canopy's biggest problem has always been its board of directors. Those are not the kind of people who know how to run a successful cannabis business. Obviously just my opinion.
Chris don’t @ me this thread until you tell me how much you speculated and lost on weed stocks
Christian Graggaber
Replying to
Bonno
Neither these companies nor their shareholders/ investors understand cannabis. It is not about scale & market share. It is about quality and tiny details. They now sit on unusable assets, which will never be able to produce quality products.
At end of the call, CEO of canadian cannabis company canopy says something about enjoying cannabis beverages over the upcoming memorial day long weekend.
Except that YOU CAN'T BUY canopy's thc cannabis beverages in the united states, and canada doesn't celebrate 'memorial day'
Still waiting to see if Canopy reached into Canadian taxpayers pockets again for more free money.
Part of the Canadian government's $100 billion covid cash giveaway to corporations, which at the very least needs an inquiry so some can be recouped.
They are doomed!
