Pot producer Canopy Growth Corp (WEED.TO) reported a smaller quarterly adjusted loss on Friday, as it benefited from cost cuts and a rise in cannabis use during the coronavirus pandemic.
A sign featuring Canopy Growth Corporation's logo is pictured at their facility in Smiths Falls, Ontario, Canada, January 4, 2018. REUTERS/Chris Wattie//File Photoreported a smaller quarterly adjusted loss on Friday, as it benefited from cost cuts and a rise in cannabis use during the coronavirus pandemic.
The sector has also attracted renewed investor interest in recent months as U.S. states legalize pot and expectations rise for federal marijuana reform. That has prompted many Canadian cannabis companies to ramp up plans for their U.S. expansions. The company ended the quarter with C$2.1 billion cash and short-term investments, which is expected to help fuel the expansion, Klein added.
Klein said Canopy had maintained the top market share in Canada. While the company lost share in the value segment, it is comfortable with prioritizing mainstream and premium products, he said.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Roku tops earnings expectations but account growth comes up shortRoku Inc. delivered better-than-expected earnings and revenue Wednesday but its shares slipped in the extended session after active-account growth came up...
Weiterlesen »
Vici Properties To Buy MGM Growth Properties For $17.2 BillionMGM Resorts will sell its majority stake in the real estate portfolio that includes Las Vegas Strip properties like the MGM Grand and the Mandalay Bay.
Weiterlesen »
BTS Backer HYBE Books 21% Profit Growth as Industry Recovery ContinuesHYBE, the management firm behind Korean pop sensation BTS, booked a 21% increase in net profits in the three months to June 2021 and said that its artists had returned to “full-fledged” activities …
Weiterlesen »
Is Sacrificing Profitability In Favor Of Growth A Good Idea For All Startups?Amazon owns e-commerce thanks to this strategy. Should you do the same for your startup?
Weiterlesen »
Is Sacrificing Profitability In Favor Of Growth A Good Idea For All Startups?Amazon owns e-commerce thanks to this strategy. Should you do the same for your startup?
Weiterlesen »
Is Sacrificing Profitability In Favor Of Growth A Good Idea For All Startups?Amazon owns e-commerce thanks to this strategy. Should you do the same for your startup?
Weiterlesen »