Great Press Releases, But....Finally great to see some news out of Canopy. I love these press releases because they actually translate into actual revenue growth. Medical pot in 500 long term care facilties which have higher margins than rec. and Storz & Bickel in 11,000 US retail outlets plus Canada. You can see that these releases are revenue focused which is the new trend we will start to see.
I agree with those that said there should have been a release about Spectrum importing into UK because it's the start of something significant. The one release I was really looking for was a follow-up to their July 26 release about publicly unveiling of their NY hemp facility. I would have thought that a concept plan would have been shown in a follow-up release which would have been great for the stock, but nothing which is very discouraging. If you go on Canopy's website and look at the interactive map of where they are globally, nothing about NY, again discouraging.
My one concern with these press releases one week before Q1 earnings is that they may be deliberate to help the stock price before the bad news. Considering there were no releases for almost a month, the timing of these is interesting? If there is one or two more release before the 15th, then I'm worried the Q1 numbers may not be great. Alternatively, they could hold off any more releases until just after the Q1 results to help stabilize the price after the bad news. As I've posted before, I'm very positive on their Q2 numbers.