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- How Can a Company Lose $3.3 Billion on $402 Million in Sales? Cannabis Companies Show How as Shares Get Wiped Out
How Can a Company Lose $3.3 Billion on $402 Million in Sales? Cannabis Companies Show How as Shares Get Wiped Out
by Wolf Richter Wolf Street
It just never ends with these hype-and-hoopla stocks. And when one wave finally dies, there’s something new. This stuff is just hilarious.
The legalization of cannabis was going to change the world. There are well over a dozen cannabis stocks that trade on US exchanges. These hype-and-hoopla stocks are another classic example of a rip-off of retail investors. Don’t ever buy stocks when you’re high is not financial advice here. And if you ever want to buy cannabis products, go buy them, but don’t buy their stocks is not financial advice either.
So one of these hype-and-hoopla darlings – Canopy Growth Corp, a Canadian company, like so many cannabis outfits – reported its long delayed Q4 and full fiscal year earnings today. Reading their earnings report is probably even more fun when you’re high.