BLUNDER SUTTER Who ?? CANOPY/not Sup We all hope the BLEED on shareholders by our Canadian [SMALL] DIRECTORS will not INFLICT the pain on SHAREHOLDERS, we had ENOUGH of this BS and these are rthe guys BLEEDING all of US except themselves.
They open companies left/right and center using shareholders money UNLIKE AMERICANs,example is BAMM.
Does Sutter deserve or NO ? We want some CREDIBILITY now!
In its earnings report, the company stated that it lost $1.28 billion CAD ($3.70 a share) during the three months ended June 30th 2019, compared to losses of $91 million ($0.40 a share) a year earlier. This was mainly due to the extinguishing of warrants relating to the Constellation Brands (NYSE: STZ) investment, the company said.
Canopy Growth also noted that numerous endeavours caused expenses to add up:
- Increase in sales and marketing due to increased staffing for the build-out of its network of retail stores
- Marketing and sales functions both domestic and international
- Promotional campaigns
- Investing ahead of revenue to prepare for the second phase of recreational cannabis consumer products in Canada, as well as CBD products in the United States
There have been some further kinks in its system to work out, as Canopy Growth shifted its product mix in Q1 2020 away from higher-margin, advanced manufactured products due to inventories evening out.
WEED also highlighted net revenue of $90.5 million generated in Q1 2020 and harvested 40,960 kg of product, surpassing its previous
Read more at https://stockhouse.com/news/newswire/2019/08/15/canopy-growth-shares-tumble-on-news-1-28-billion-loss#U84A3mg3PkqZ48JI.99