As Benzinga Cannabis Capital Conference returns on September 13-14 to Chicago, gathering top CEOs, investors and leaders in the industry, let's scroll through the latest leadership changes within the space.
Canopy Growth Corporation (NASDAQ: CGC) (TSX:WEED) released its financial results for the first quarter ended June 30, 2022, revealing net revenue of CA$110 million ($85.36 million) in Q1 FY2023 declined 19% versus Q1 FY2022.
Companies Reporting Before The Bell
• Reservoir Media (NASDAQ:RSVR) is projected to report quarterly loss at $0.05 per share on revenue of $18.19 million.
Canopy Gwth (NASDAQ:CGC) is set to give its latest quarterly earnings report on Friday, 2022-08-05. Here's what investors need to know before the announcement.
Analysts estimate that Canopy Gwth will report an earnings per share (EPS) of $-0.22.
This was a very challenging year for pot stocks. Year-to-date, AdvisorShares Pure US Cannabis ETF (ARCA:MSOS) dropped 54.01%, AdvisorShares Pure Cannabis ETF (ARCA:YOLO) declined 57.46%, compared to SPDR S&P 500 (ARCA:SPY) which lost 13.61%.
Canopy Growth (NASDAQ: CGC) experienced a severe sell-off, as it currently trades at the very bottom of its 52-week range. It's almost near the bottom on shorter time spans, including the 50-day range. The stock is currently down -74.62%, severely underperforming the S&P 500 with a loss of -18.25%.