Shares of a top Canadian cannabis producer reacted this week after its latest financial results.
Also this week, Organigram Holdings (NASDAQ:OGI,TSX:OGI) announced it has found a new CEO in a former cannabis executive.
Keep reading to find out more cannabis highlights from the past five days.
Cannabis - Will The Fortune 500 Join The Party?
Our Exclusive FREE Report Contains Information You NEED To Know About Cannabis Stock Investing!
Canopy posts latest results
Canopy Growth (NASDAQ:CGC,TSX:WEED) shared its financial results for its first fiscal quarter on Friday (August 6). The producer reported revenue of C$136 million for the period ended June 30, 2021.
When it comes to net earnings for Q1, the Ontario-based producer reported C$392.4 million for the latest quarter, attributed to an unidentified C$581 million in “other income”
After tumbling in early trading, shares of Canopy recovered for the day. As of 2:00 p.m. EDT on Friday, the company was up a marginal 0.47 percent at a price per share of US$19.23 on the NASDAQ.
In terms of the US market, Canopy told investors it is continuing to scale its current business opportunities. But as of this moment, Canopy still can’t sell recreational products in the US market.
“While we’re encouraged by regulatory advancement in the U.S., Canopy is not waiting as we continue to scale our business on both sides of the border with an exciting product pipeline planned for the coming quarters,” David Klein, CEO of Canopy Growth, said.
...
Read Full Story: https://investingnews.com/daily/cannabis-investing/cannabis-weekly-canopy-reports-revenue-increase/
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.