Canopy Growth: A Chapter 11 Filing Is Still A Distant Possibility

Pacifica Yield
12.61K Followers

Summary

  • Canopy's cash and equivalents position of C$783 million as of the end of the fourth quarter has meant a more than 1-year cash runway.
  • Canopy's free cash outflow as of the end of its fourth quarter stood at C$143 million and was a 13% increase in cash outflows versus the year-ago comp.
  • Divestitures are currently running at C$81 million from the end of March with the company guiding for another C$150 million in divestitures by the end of September.

marijuana neon background.

nopparit/iStock via Getty Images

Canopy Growth (NASDAQ:CGC) continues to sink with 2023 fast turning into a tragedy on an existential scale. The Smiths Falls, Ontario-based company is down 74% since the start of the year as continued cash burn, auditor turnover, and a

This article was written by

12.61K Followers
The equity market is a powerful mechanism as daily fluctuations in price get aggregated to incredible wealth creation or destruction over the long term. Pacifica Yield aims to pursue long-term wealth creation with a focus on undervalued yet high-growth companies, high-dividend tickers, REITs, and green energy firms.

Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Recommended For You

About CGC Stock

SymbolLast Price% Chg
Market Cap
PE
Yield
Rev Growth (YoY)
Short Interest
Prev. Close
Compare to Peers

More on CGC

Related Stocks

SymbolLast Price% Chg
CGC
--
WEED:CA
--