Out Fox The $treet

Canopy Growth failed to meet FQ1 estimates with sales dipping below key cannabis competitors in Canada. The company burned the cash balance down C$1.4 billion to C$3.1 billion in the quarter. The company harvested nearly 6,000 kg more than forecasted near quarterly end. Another EBITDA loss above C$90 million will push the stock down to the $25 price target and likely lower. A founding CEO being fired in a hot sector is usually not a good sign and the  FQ1 results  of  Canopy Growth  ( CGC ) reinforce that theory. The stock is plunging towards the 52-week lows and how Canopy Growth bounces around $25 will likely derive where the stock heads for the rest of the year. My  previous research  following the termination of CEO Bruce Linton had suggested this target was the likely outcome and this price might end up too conservative. Read the full article on Seeking Alpha More commentary - Out Fox The $teet - August 15 Disclosure: No positi...

Canopy Growth continues to prep for markets that aren't ready for its cannabis products. The company forecasts current quarter harvests of 34,000 kg will nearly quadruple the December quarter levels while demand has soured. Canopy Growth reported a massive C$97 million adjusted EBITDA loss that shocked the market. Money-losing stocks aren't likely to maintain a rich EV/S multiple of 11x FY21 revenue estimates (numbers analysts are likely to cut). On the path to inevitable success,  Canopy Growth  ( CGC ) continues to hit bumps in the road. The stock fell 8% following the release of outdated March quarterly results, in another sign that the leading cannabis company and the sector just aren't ready for prime time yet. My  bearish investment case  remains intact. Read the full article on Seeking Alpha.  July 3 Update CEO Bruce Linton was fired and the stock is no trading solidly below $40.  Check out WhoTrades for timely updates on th...