|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's Range||0.8440 - 0.8872|
|52 Week Range||0.7800 - 3.9900|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||3.30|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
TORONTO — Canopy Rivers Inc. says it swung to a loss in its third quarter of 2020 and has withdrawn its full-year guidance over multiple headwinds in the cannabis industry.The venture capital arm of Canopy Growth says it had a net loss of $2.7 million, or one cent per share, for the three months ending Dec. 31, compared with a net income of $1.4 million, or one cent per share, a year earlier.Analysts had expected a net loss of two cents per share, according to financial markets data firm Refinitiv.Canopy Rivers says it has withdrawn its full year guidance because uncertainty created in the industry from unanticipated licensing delays, "reformed views" on the ramp-up time for large-scale cannabis greenhouses, and a general decline in wholesale cannabis prices.The firm, which holds investments in numerous cannabis firms, had previously expected earnings before deductions of between $85 million and $100 million from its PharmaHouse and Vert Mirabel holdings.Canada's cannabis industry has struggled to reach profitability since legalization of marijuana products and companies have turned to cost cutting measures.This report by The Canadian Press was first published Feb. 14, 2020.Companies in this story: (TSX:RIV) The Canadian PressNote to readers: This is a corrected story. A previous version contained incorrect income and earnings per share figures.
Beer, wine and spirit giants and small startups alike are betting on cannabis beverages disrupting the drinks market with products that can soothe sore muscles after a workout, or deliver a hangover-free buzz.
James E. Wagner Cultivation (TSXV: JWCA) (OTCQX: JWCAF), a portfolio company of Canopy Rivers (TSX: RIV) (OTC: CNPOF), has been granted approval by Health Canada to increase cannabis production at its facility in Kitchener, Ontario. The approval allows the company to start the production in four new flowering rooms at its facility in Kitchener. The additional […]The post Canopy Rivers Gets Approval to Boost Cannabis Production appeared first on Market Exclusive.
Formerly ousted Canopy Growth co-CEO Bruce Linton is getting back into the cannabis space with new advisor and investor positions.