{"id":19759,"date":"2019-11-15T10:52:37","date_gmt":"2019-11-15T10:52:37","guid":{"rendered":"https:\/\/traders-paradise.com\/?p=19759"},"modified":"2020-07-07T13:20:01","modified_gmt":"2020-07-07T12:20:01","slug":"canopy-growth-lost-20-million","status":"publish","type":"post","link":"https:\/\/traders-paradise.com\/magazine\/2019\/11\/canopy-growth-lost-20-million\/","title":{"rendered":"Canopy Growth Lost $20.3 million"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19760 size-full\" src=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/11\/canopy-top-1.jpg\" alt=\"Canopy Growth Lost $20.3 million\" width=\"800\" height=\"491\" srcset=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/11\/canopy-top-1.jpg 800w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/11\/canopy-top-1-300x184.jpg 300w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/11\/canopy-top-1-768x471.jpg 768w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/11\/canopy-top-1-370x227.jpg 370w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/11\/canopy-top-1-760x466.jpg 760w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/11\/canopy-top-1-424x260.jpg 424w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_74 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/11\/canopy-growth-lost-20-million\/#Canopy_Growth_lost_more_than_it_was_estimated_The_reasons_are_numerous_Its_stock_is_in_big_troubles_after_Q2_earnings_report_on\" >Canopy Growth lost more than it was estimated. The reasons are numerous. \nIts stock is in big troubles after Q2 earnings report on\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/11\/canopy-growth-lost-20-million\/#Dont_miss_Amazons_Workers_or_Why_Ill_Never_Invest_in_Amazon\" >Don&#8217;t miss: Amazon\u2019s Workers or Why I\u2019ll Never Invest in Amazon?<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/11\/canopy-growth-lost-20-million\/#What_tends_to_go_wrong_will_go_wrong\" >What tends to go wrong, will go wrong<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/traders-paradise.com\/magazine\/2019\/11\/canopy-growth-lost-20-million\/#Canopy_Growth_lost_what_will_happen_to_the_shares\" >Canopy Growth lost, what will happen to the shares?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h4><span class=\"ez-toc-section\" id=\"Canopy_Growth_lost_more_than_it_was_estimated_The_reasons_are_numerous_Its_stock_is_in_big_troubles_after_Q2_earnings_report_on\"><\/span><strong>Canopy Growth lost more than it was estimated. The reasons are numerous.<br \/>\nIts stock is in big troubles after Q2 earnings report on\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Canopy Growth (NYSE: CGC),\u00a0 announced the second-quarter earning a result on Thursday, Nov. 14. <\/span><span style=\"font-weight: 400;\">Canopy Growth, the largest marijuana stock in the world by market cap, <\/span><a href=\"https:\/\/www.prnewswire.com\/news-releases\/canopy-growth-reports-second-quarter-fiscal-2020-financial-results-300958036.html\"><span style=\"font-weight: 400;\">reported<\/span><\/a><span style=\"font-weight: 400;\"> it lost $20.3 million over the second fiscal quarter. The loss came from returned cannabis oil products. Simply,\u00a0 it looks people would like to smoke marijuana but don&#8217;t like its oil products and the retailers in Canada returned it to the producer. It looks the rocky quarter is behind the company. The sales dropped, and the price resulted in a loss of $1.08 a share during the quarter.<\/span><\/p>\n<h4><span class=\"ez-toc-section\" id=\"Dont_miss_Amazons_Workers_or_Why_Ill_Never_Invest_in_Amazon\"><\/span><a href=\"https:\/\/traders-paradise.com\/magazine\/2019\/11\/amazons-workers\/\"><strong>Don&#8217;t miss: Amazon\u2019s Workers or Why I\u2019ll Never Invest in Amazon?<\/strong><\/a><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Its shares fell by around 11% in pre-market trading. That was the response to the report. If this trend continues, its price could easily drop by up to 20% this week. Yesterday, November 14, the price was $15.84 which is a decline of over 14%. Bad days for this company with a market cap of $5.285B.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19761 size-full\" src=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/11\/Canopy-chart-1.jpg\" alt=\"Canopy Growth Lost $20.3 million\" width=\"800\" height=\"434\" srcset=\"https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/11\/Canopy-chart-1.jpg 800w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/11\/Canopy-chart-1-300x163.jpg 300w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/11\/Canopy-chart-1-768x417.jpg 768w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/11\/Canopy-chart-1-370x201.jpg 370w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/11\/Canopy-chart-1-760x412.jpg 760w, https:\/\/traders-paradise.com\/magazine\/wp-content\/uploads\/2019\/11\/Canopy-chart-1-424x230.jpg 424w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">Net revenue for the second fiscal quarter was $57.8 million, dropping from the Q1 score of $68.3 million. The company&#8217;s net loss increased. It is $282.7 million.<br \/>\n<\/span><span style=\"font-weight: 400;\">The performance was worse than the experts expected, they were expecting net revenue of $68.4 million and a net loss of $0.31 per share.<br \/>\n<\/span><span style=\"font-weight: 400;\">The expanding market for medical cannabis outside improved 72% over Q1 to $14 million. The same came from recreational cannabis sales &#8211; an increase of 24% to $10 million.<\/span><\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_tends_to_go_wrong_will_go_wrong\"><\/span><strong>What tends to go wrong, will go wrong<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Canopy Growth&#8217;s Q2 report exposed two modest but positive improvements: the gross cannabis revenues grew by 2% and the company closed this period with $2.04 billion in cash, its equivalents, and securities. But that&#8217;s all.<br \/>\n<\/span><span style=\"font-weight: 400;\">Canada&#8217;s legal marijuana market has problems that influence all authorized cultivators. Company&#8217;s CEO Mark Zekulin stated:\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">&#8220;The last two quarters have been challenging for the Canadian cannabis sector as provinces have reduced purchases to lower inventory levels, retail store openings have fallen short of <a href=\"https:\/\/traders-paradise.com\/magazine\/2019\/11\/how-to-find-big-opportunities-in-investing\/\">expectations<\/a>, and Cannabis 2.0 products are yet to come to market&#8221;<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The thing that went wrong is that Canopy took a huge $24 million restructuring debit. To add more pain, the company posted an inventory charge of $12 million. And its Q2 net revenue is $57.8. Much under Wall Street expectations.<br \/>\n<\/span><span style=\"font-weight: 400;\">Zekulin said that the management believes this situation is short-term and &#8220;Canopy continues to be best positioned with cash-on-hand, a world-class infrastructure, and a portfolio of intellectual property&#8221;.\u00a0<\/span><\/p>\n<p>&nbsp;<\/p>\n<h4><span class=\"ez-toc-section\" id=\"Canopy_Growth_lost_what_will_happen_to_the_shares\"><\/span><strong>Canopy Growth lost, what will happen to the shares?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Canopy&#8217;s shares will apparently continue to fall for several reasons. The company&#8217;s <a href=\"https:\/\/traders-paradise.com\/magazine\/2019\/10\/will-marijuana-stocks-go-up-in-smoke\/\">valuation<\/a> continues separated from the rest of the legal marijuana industry. For example, its <a href=\"https:\/\/traders-paradise.com\/magazine\/2019\/10\/how-to-know-if-a-stock-is-worth-buying\/\">shares are trading<\/a> eight times more than the next year&#8217;s projected sales despite the fact that the company will end up dropping under those optimistic revenue predictions.<br \/>\n<\/span><span style=\"font-weight: 400;\">The various problems of the Canadian cannabis market could need years to be solved.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Investors&#8217; expectations that the marijuana legalization will be done in a short time all over the world, firstly in the US, were unrealistic. And it looks like it won&#8217;t be soon. <\/span><span style=\"font-weight: 400;\">This subject has barely been touched on by any of the contenders in the next year&#8217;s presidential run.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Canopy Growth stock is at its weakest level since 2017. It has lost over 40% of its value this year. Canopy&#8217;s shares are deeply unlikely to bounce anytime soon.<\/span><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Canopy Growth lost more than it was estimated. The reasons are numerous. Its stock is in big troubles after Q2 earnings report on\u00a0 Canopy Growth (NYSE: CGC),\u00a0 announced the second-quarter earning a result on Thursday, Nov. 14. Canopy Growth, the largest marijuana stock in the world by market cap, reported it lost $20.3 million over [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":19762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[1004,1008],"tags":[582,792,1382,684,576],"class_list":["post-19759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-financial-news","category-pot-stocks","tag-cannabis-industry","tag-canopy-growth","tag-canopy-growth-lost","tag-marijuana-stocks","tag-pot-stocks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Canopy Growth Lost $20.3 million - Traders-Paradise<\/title>\n<meta name=\"description\" content=\"Canopy Growth lost more than it was estimated. 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