Friday, June 23, 2023, 9:23 AM ET
0923 ET - Bernstein says visibility into Canopy Growth's prospects remains limited after the Canadian cannabis business included language in its 10-K saying "management has raised substantial doubt as to the Company's ability to continue as a going concern due to certain material debt obligations coming due in the short term." However, the analysts add that the Canopy is potentially showing signs of stabilization, with business-to-business sales up sequentially in 4Q for the first time in two years. But the company is still burning through cash, and cash won't start flowing back into its US business without federal legalization there, which appears unlikely for the next few years, the analysts say. Shares slip 6% to 56 cents in premarket trading. (dean.seal@wsj.com)"
It is going to receive over $200m in assets sale in Sept according to CFO on CC. That will pay for debt due. It should consider to sell BioSteel too. It put a drag on Weed's earnings.