The Canadian PressCanopy Growth Corp. says its cannabis sales fell 38 per cent since last year."Maybe our aspirations have changed over the last several years, but we believe that we can get ourselves, with the right focus in the right categories, to a profitable business that's not burning cash in the Canadian market," said CEO David Klein, on a call with analysts.
She named market fragmentation, the strength of the illict market and regulatory hurdles, including a slow move toward federal legalization in the U.S., as the company's biggest challenges. In the most recent quarter, Canopy's largest U.S. distributor faced financial challenges causing it to pause orders and the company is now having to work to reestablish ordering patterns that were lost, Hong said.
In recent weeks, Senate Majority Leader Chuck Schumer introduced the Cannabis Authorization and Opportunity Act, which could help federally legalize marijuana, though observers aren't hopeful it will be enacted.
Source: News Formal (newsformal.com)
markdobsonyeah
The only way to lose money selling weed is to let the govt get involved.
Wow only the government could loose money on this. Seems like more and more. Healthcare, economy, inflation. Failing on all fronts.
Lol sooo they’re building back better despite the obvious are they? Must be smoking the same economic marijuana strain as Trudeau and Biden🙄
Don't know how they managed to do it but this government took an entire industry and made it unprofitable.
Leaking cash somewhere
GrowYourOwnTherapy
Lolololol
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