3 Things About Canopy Growth That Smart Investors Know
With ambitions to sell its consumer packaged goods across the world, Canopy Growth (NASDAQ: CGC) is more than a mere Canadian marijuana company. Despite those ambitions, it hasn't been a great investment, with its shares down by 77.6% in the last five years.
Moving forward, the company's issues with both growth and profitability make it a risky pick. Let's take a look at three things that smart investors are likely to already understand about the stock that will likely influence the decision-making of anyone considering whether to make a purchase.
Smart investors stay focused on data rather than hype, and for Canopy, the data says its revenue growth is frailer than might be hoped. In the first quarter of the fiscal year 2023, its total revenue fell by 19%, reaching CA$110.1 million. That was only the latest in its declining pace of expansion, as, over the last three years, its quarterly revenue fell by more than 8%. For a putative growth stock, a shrinking top line is bad news, to say the least.
Source Fool.com
