Canndescent CEO Adrian Sedlin expresses concern for the cannabis industry as sales begin to drop off.
Canopy Growth Corp.’s fourth-quarter loss widened after a C$743 million restructuring charge.
Continue Reading Below
The Ontario, Canada-based cannabis producer lost C$1.3 billion, or C$3.72 per share, as net revenue spiked 15 percent to C$107.9 million Canadian dollars. Wall Street analysts surveyed by Refinitiv were expecting revenue of C$128.8 million.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| CGC | CANOPY GROWTH CORP | 21.72 | +1.82 | +9.15% |
“I am excited to implement our strategy reset and organization redesign over the course of fiscal 2021,” CEO David Klein said in a statement.
CLICK HERE TO READ MORE ON FOX BUSINESS
This story is developing. Check back for updates.
