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Canopy Growth Corp WEED Stock Quote

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Morningstar‘s Stock Analysis WEED

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Canada Continues to Weigh on Canopy’s Q1 Results, but Market Price Undervalues U.S. Optionality

Analyst Note

| Kristoffer Inton |

Canopy Growth’s first-quarter fiscal-year 2023 continued to be weighed down by the challenging Canada market, which accounts for roughly half of gross revenue. Regulatory hurdles, a very fragmented market of far too many licensed producers, or LPs, and the continued strength of the black market have led to slower development of the Canada legal market than expected when legalization passed a few years ago.

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Company Profile WEED

Business Description

Canopy Growth, headquartered in Smiths Falls, Canada, cultivates and sells medicinal and recreational cannabis, and hemp, through a portfolio of brands that include Tweed, Spectrum Therapeutics, and CraftGrow. Although it primarily operates in Canada, Canopy has distribution and production licenses in more than a dozen countries to drive expansion in global medical cannabis and also holds an option to acquire Acreage Holdings upon U.S. federal cannabis legalization.

1 Hershey Drive
Smiths Falls, ON, K7A 0A8, Canada
T +1 855 558-9333
Industry Drug Manufacturers - Specialty & Generic
Most Recent Earnings Jun 30, 2022
Fiscal Year End Mar 31, 2023
Stock Type
Employees 3,151