Can Canopy Growth Stock Finally Recover in 2024? [Yahoo! Finance Canada]
Canopy Growth Corporation - Common Shares (CGC)
Company Research
Source: Yahoo! Finance Canada
After touching all-time highs in October 2018, shares of Canopy Growth TSX:WEED ) currently trade 98.6% below record levels. Investor optimism was at its peak when Canada legalized marijuana for recreational use in October 2018. However, since then, the Canadian cannabis sector has been wrestling with industry-wide headwinds ranging from rising competition and oversupply of cannabis products to high inventory levels and negative profit margins. In order to support their high cash-burn rates, several marijuana producers were forced to raise equity capital several times, diluting existing shareholder wealth significantly. Additionally, several established players, including Canopy Growth, acquired companies at a hefty premium to gain market share and expand their manufacturing capabilities. In the last few years, these overvalued acquisitions compelled cannabis producers to write down goodwill impairments that totalled billions of dollars. ADVERTISEMENT Valued at a market cap of
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CGC
News
- Cannabis Market Size Worth USD 148.4 Billion By 2031 | CAGR 16.9%: Skyquest Technology [Yahoo! Finance]Yahoo! Finance
- Canopy Growth Corporation (CGC) Surpasses Market Returns: Some Facts Worth Knowing [Yahoo! Finance]Yahoo! Finance
- Is It Too Late to Buy Canopy Growth Stock? [Yahoo! Finance]Yahoo! Finance
- Acreage Announces Appointment of Rebecca Kirk as Chief Operating Officer [Yahoo! Finance]Yahoo! Finance
- Acreage Announces Appointment of Rebecca Kirk as Chief Operating Officer [Financial Post (Toronto, Ontario, Canada)]Financial Post
CGC
Earnings
- 5/30/24 - Miss
CGC
Sec Filings
- 6/18/24 - Form EFFECT
- 6/18/24 - Form EFFECT
- 6/18/24 - Form EFFECT
- CGC's page on the SEC website