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    WEED   CA1380351009

CANOPY GROWTH CORPORATION

(WEED)
  Report
Delayed Toronto Stock Exchange  -  04:36 2022-08-12 pm EDT
4.190 CAD   +4.49%
08/09CANOPY GROWTH CORP Management's Discussion and Analysis of Financial Condition and Results of Operations. (form 10-Q)
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08/08CANOPY GROWTH : BioSteel Signs Connor Bedard, Adding Next Generation Rising Hockey Star to its Roster of Elite Athletes
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08/08Piper Sandler Trims Canopy Growth Target to US$2.50, Expects Canadian Retail Stores to be Divested
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TSX tumbles nearly 14% in second quarter amid recession fears

06/30/2022 | 05:25pm EDT

(Adds details throughout, updates prices)

* TSX ends down 217.28 points, or 1.1%, at 18,861.36

* For the second quarter, the index loses 13.8%

* Shares of Canopy Growth drop 18.5%

* Air Canada ends 6% lower

TORONTO, June 30 (Reuters) - Canada's main stock index fell on Thursday and posted the biggest quarterly decline since the first quarter of 2020, as rising worries of a global economic slowdown weighed on investor sentiment ahead of a long domestic weekend.

The Toronto Stock Exchange's S&P/TSX composite index ended down 217.28 points, or 1.1%, at 18,861.36, its lowest closing level since last Thursday.

For the month of June, the index fell 9%. It was down 13.8% for the second quarter.

Wall Street also ended lower on Thursday, a dismal coda to the S&P 500's worst first half in more than half a century.

Investors worried that the latest show of central bank determination to tame inflation would slow economic growth.

"I think that fears over recession are continuing to drive sentiment at the moment, driven by central banks continuing to warn that the battle against inflation will likely be a long one," said Stuart Cole, head macro economist at Equiti Capital.

Canada's economy likely contracted 0.2% in May, largely on a drop in oil and gas output, official data showed, while GDP growth in April was in line with analyst forecasts.

Both the technology and energy groups fell 1.7%, with the latter contending with a drop in oil prices. Oil settled 3.7% lower at $105.76 a barrel.

The materials group, which includes precious and base metals miners and fertilizer companies, lost 3.6%.

Shares of Canopy Growth Corp tumbled 18.5%, hitting their lowest level since August 2016, while Air Canada lost 6%. The carrier trimmed its domestic flight schedule this summer, as North American airlines wrestle with labor shortages, delays and cancellations.

The Toronto market will be closed on Friday for the Canada Day holiday. (Reporting by Fergal Smith in Toronto Additional reporting by Amal S in Bengaluru Editing by Matthew Lewis)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
AIR CANADA 0.96% 18.88 Delayed Quote.-10.65%
AMERICAN AIRLINES GROUP INC. 1.73% 15.25 Delayed Quote.-15.09%
CANOPY GROWTH CORPORATION 4.49% 4.19 Delayed Quote.-62.05%
LONDON BRENT OIL -4.66% 93 Delayed Quote.25.61%
WTI -4.87% 87.144 Delayed Quote.21.92%
All news about CANOPY GROWTH CORPORATION
08/09CANOPY GROWTH CORP Management's Discussion and Analysis of Financial Condition and Res..
AQ
08/08CANOPY GROWTH : BioSteel Signs Connor Bedard, Adding Next Generation Rising Hockey Star to..
PU
08/08Piper Sandler Trims Canopy Growth Target to US$2.50, Expects Canadian Retail Stores to ..
MT
08/08Canopy Growth Corporation Reports First Quarter Fiscal Year 2023 Financial Results
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08/08CANOPY GROWTH : Reports First Quarter Fiscal Year 2023 Financial Results - Form 8-K/A
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08/08CANOPY GROWTH CORP Financial Statements and Exhibits (form 8-K/A)
AQ
08/05TSX pares weekly decline as oil selloff pauses
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08/05Canopy Growth Posts Wider-Than-Expected Quarterly Loss Amid Impairment Charge
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08/05Toronto Stocks Slide; Canopy Growth Falls on 1Q Results as Competition Stiffens
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08/05Canopy growth corp lowers capex outlook for 2023 to about c$30 m…
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Analyst Recommendations on CANOPY GROWTH CORPORATION
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Financials
Sales 2023 487 M 381 M 381 M
Net income 2023 -2 356 M -1 842 M -1 842 M
Net Debt 2023 345 M 269 M 269 M
P/E ratio 2023 -0,75x
Yield 2023 -
Capitalization 2 011 M 1 572 M 1 572 M
EV / Sales 2023 4,83x
EV / Sales 2024 4,31x
Nbr of Employees 3 151
Free-Float 64,2%
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Technical analysis trends CANOPY GROWTH CORPORATION
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Mean consensus UNDERPERFORM
Number of Analysts 21
Last Close Price 4,19 CAD
Average target price 5,12 CAD
Spread / Average Target 22,3%
EPS Revisions
Managers and Directors
David Eric Klein Chief Executive Officer & Non-Independent Director
Judy Hong Chief Financial Officer & VP-Investor Relations
Judy A. Schmeling Chairman
Mark A. Ware Chief Medical Officer
Jonathan Di Tosto Chief Operating Officer