Tim Seymour On Canopy Growth’s Earnings: ‘A Huge Exhale’

St. Valentine came bearing gifts for Canopy Growth Corporation (NYSE: CGC)(TSX:WEED) shareholders, as the stock traded up following strong results for the third-quarter of fiscal 2020.

Net revenue of CA$123.8 million ($93.5 million) was up 49% year-over-year, but the adjusted EBITDA loss of CA$92 million was higher than last year’s CA$74.8.

Over the course of the third quarter, Canopy Growth named David Klein as its new CEO, cemented its leading position in the Canadian retail market by boasting a projected 22% of the adult-use market share, and concluded the first shipments of cannabis edibles and JUJU Power 510 batteries.

Seymour’s Take

Tim Seymour, portfolio manager of the Amplify Seymour Cannabis …

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