Shares of
Canopy Growth Corp. (
TSX.WEED) – the world’s largest cannabis producer – climbed roughly 8% on the TSX after the company's
fiscal first-quarter results beat analyst expectations.
T.WEED reported revenue of $110.4 million, up 22% from the same quarter a year earlier, while posting a loss of $128.3 million – a 34% improvement from last year. While the company's Q1 revenue was strengthened by its medical cannabis business, Canopy saw its share of the recreational pot market recede. The Company is now focusing on improving the quality of its dried flower products, while also exploring opportunities to unveil more CBD-infused beverages to the Canadian market.
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