Why Canopy Growth, Aurora Cannabis, and Hexo Stocks Went Up in Smoke Today

By Rich Smith

Yes, unfair as it may feel, the stock to blame for Canopy’s, Aurora’s, and Hexo’s declines today is none of the above, but rather their cannabis-growing rival Aphria, which reported its fiscal Q3 2021 earnings results this morning.

Suffice it to say that the news was not good.  

Sales at the Canadian cannabis company grew a respectable 6% to CA$153.6 million in Q3 2021, but that was well below the CA$166.2 million that analysts had predicted. Worse, Aphria reported a CA$1.14-per-share loss for the quarter, versus the tiny profit (calculated according to generally accepted accounting principles or GAAP) reported a year ago. In terms of U.S. dollars, Aphria lost $0.91 per share.

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