The cannabis company's per-share loss was almost five times as big as analysts had expected. The stock plunged in response. Read More...
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Canopy Growth shares drop on wider-than-expected loss
Canopy Growth Corp. shares fell 11% in premarket trades Friday after it said its fourth-quarter loss narrowed to C$574.6 million, or $1.46 a share, from C$700 million, or $1.85 a share in the year-ago quarter. Revenue for the three months ended March 31 fell to C$126.1 million from C$167.4 million in the year-ago period. Analysts expected Constellation Brands Inc.-backed backed Canopy Growth to report a loss of 30 cents a share on revenue of C$129.9 million, according to FactSet. Looking ahead,
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