Canopy Shares Are Up In Smoke
Canopy Growth is Real Money's Stock of the Day.
The Canadian cannabis company reported earnings Thursday, June 20th, after the market close and beat on the top line, but missed on the bottom.
Revenue came in at C $94.1 million, versus a C$92.2 million consensus, while earnings per share had an adjusted loss of C$0.98, well greater than the expected loss of C$0.32 per share.
Sales were boosted by increased production capacity, however, there was a slowdown in recreational sales of cannabis in Canada as the euphoria following legalization last October may be over.
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