Canopy Growth posted an adjusted core loss of $78.1-million in the second quarter, compared with a loss of $162.6-million a year earlier
reported a smaller second-quarter core loss on Wednesday, helped by higher sales of its cannabis-infused drinks and cost-cutting measures.
Canopy has been doubling down on its efforts to turn profitable, including cost cuts through layoffs, exits from some international markets, store closures and divestiture of its retail business across Canada. Last month, the company said it will create a holding company to fast track its entry into the United States, which is projected to be more than $50-billion market by 2026.
U.S. President Joe Biden has recently been seeking a review on how marijuana is classified and a potential change in legislation is expected to benefit cannabis producers further. The company posted an adjusted core loss of C$78.1-million in the second quarter, compared with a loss of C$162.6-million a year earlier.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
City of Ottawa staff have analyzed the local impacts of the province's new housing bill, and their conclusions are grim\u0022If growth will not pay for growth, existing taxpayers will.\u0022
Read more »
City of Ottawa staff conclude the local impacts of the province's new housing bill will be grim\u0022If growth will not pay for growth, existing taxpayers will.\u0022
Read more »
OSC settles first cannabis fraud case on lesser charges with separate quasi-criminal trial just weeks awayOSC settles first cannabis fraud case on lesser charges with separate quasi-criminal trial just weeks away BatPost cannabisnews cannabisstock
Read more »
Canadian banks readying for carbon offsets to go big, even as doubts remain - BNN BloombergBanks know a growth market when they see it, and they're increasingly seeing one in the buying, selling and generating of carbon offsets.
Read more »
Mark Carney sees 'absolute wall of opportunity' for clean energy investorsMark Carney says renewable\u002Denergy assets are primed for an era of growth and the \u0022smart money\u0022 has clued in. Find out more.
Read more »
Mark Carney sees 'absolute wall of opportunity' for clean energy investorsMark Carney says renewable\u002Denergy assets are primed for an era of growth and the \u0022smart money\u0022 has clued in. Find out more.
Read more »