Canopy Growth (WEED.T) financials are catastrophic, $374m loss, $32m in returned product/writedowns (Equity.Guru)
Listen up, true believers – Canopy Growth Corp (WEED.T) will not be rewarding your love any time soon.
This isn’t news, obviously. We’ve told you this several times. Hell, your CEO told you the company would need at least three years to fly right.
And yet, even after the company released financials today that showed a BIG drop in revenues and a MASSIVE amount of returned product and write-downs, the stock is only down 14%.
What, do you guys think the worst is over? That suddenly their product isn’t going to be the laughingstock of the industry? That the $300m losses are turning to profits next time?
Newsflash: When the pig is bleeding from the neck, quit trying to ride it.
At an $8.5 billion market cap, Canopy Growth Corp is STILL overvalued, and by a wide margin, and still years away from being profitable by the CEO’s own admission. I’m not one to tell people to buy or sell a stock, that’s not my job and I’m not your father or your financial advisor.
BUT, FUCK, GUYS.