Canopy Growth Corp (WEED)

[Bonno]

Bankruptcy Law

DISTRESSED DAILY: Weed Firm Canopy Growth Faces Liquidity Crunch
June 21, 2022, 8:37 AM
Canadian cannabis company Canopy Growth Corp. is having trouble adjusting to changing consumer preferences, which may threaten the ability to refinance its convertible debt due next year.

The company has faced earnings deficits and is likely to have continued pressures from supply-chain issues and increased competition, S&P Global Ratings analysts Monysh Bandeally and Madhav Hari wrote in a report last week.

Canopy “significantly” underperformed S&P’s expectations in the 2022 fiscal year as consumer tastes for premium products evolved, the analysts wrote. During the last fiscal year, the company didn’t have enough inventory to meet demand for select strains and high-potency ...