Canopy Growth Corp T.WEED

Alternate Symbol(s): T.WEED.DB | CGC

Healthcare Cannabis

Canopy Growth Corporation is a cannabis company. It delivers innovative products with a focus on premium and mainstream cannabis brands, including Doja, 7ACRES, Tweed, and Deep Space, in addition to category-defining vaporizer technology made in Germany by Storz & Bickel. The principal activities of the Company are the production, distribution and sale of a diverse range of cannabis and cannabinoid-based products for both adult-use and medical purposes under a portfolio of distinct brands in Canada. Its Canada cannabis segment includes the production, distribution, and sale of a range of cannabis, hemp, and cannabis related products in Canada. International markets cannabis segment includes the production, distribution, and sale of a range of cannabis and hemp products internationally. Storz & Bickel segment includes the production, distribution, and sale of vaporizers. This Works segment includes the production, distribution and sale of beauty, skincare, wellness and sleep products.

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Canopy Growth Corp > Go away Piper Sandler. You are a real pain is the butt.

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Comment by Starsearcher80on Apr 01, 2022 9:58pm

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RE:Go away Piper Sandler. You are a real pain is the butt.

CLOWNS YOU ARE GOING TO GET YOUR HEAD HANDED TO YOU. SO good to see Piper Sandler come out and substantiate what I've been saying all along. THIS QUARTER IS GOING TO BE BRUTAL.

ProfEinstein wrote:
Soon, Canopy Growth corp shares will be more mesmerizing than gold itself. Then Piper and others will be praising Canopy once again.

Piper Sandler Lowers Canopy Growth Estimates on Softer Momentum, Cuts Target to US$6

Canopy Growth's sales trends remain under pressure across key parts of its business, and Piper Sandler is lowering estimates accordingly. It continues to lose share in Canadian recreational use cannabis, and its US measured retail sales, while still small, are down ~8% since August, analyst Michael Lavery notes.

Piper Sandler is also lowering revenues in its Other segment brands, driven by supply chain challenges (Storz & Bickel) and updated seasonality considerations. BioSteel continues to build distribution, and now drives more than 100% of F23 sales growth expectations. PS is cutting F22E sales from ~C$545 million to ~C$530 million and lowering F23E sales from ~C$655 million to ~C$595 million. Trimming target from US$7 to US$6 (maintaining ~4x EV/Sales multiple).

PS is also lowering Q4 2022 sales from ~C$139 million to ~C$124 million to better reflect momentum. The Canadian recreational use market has declined mid/high single digits from December to January, and again from January to February. Large LPs like Canopy continue to lose market share, and PS has updated its Q4 2022 estimate to reflect a C$4 million sequential decline from Q3 2022.