Trulieve CEO Kim Rivers sits down with Yahoo Finance Live to discuss the cannabis company's latest earnings report and outlook ahead of cannabis regulation bills.
Canopy Growth Corp posted another core loss on Friday, denting investor hopes that the cannabis producer would turn profitable anytime soon, sending its shares down 8%. Canopy has been focusing on premium high-potency offerings and has undertaken cost cuts through layoffs, exits from some international markets and store closures in its bid to turn profitable, after nearly four years of cannabis legalization in Canada. Some of these cost-saving measures are being offset by higher wage inflation and supply-chain costs, Chief Financial Officer Judy Hong said in a call, adding that the majority of the savings are expected to be recognized in the second half of fiscal 2023.
Canopy Growth Corporation ("Canopy Growth" or the "Company") (TSX: WEED) (NASDAQ: CGC) today announces its financial results for the first quarter ended June 30, 2022. All financial information in this press release is reported in Canadian dollars, unless otherwise indicated.