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CANOPY POSTS SIGNIFICANT LOSS, DECLINING REC AND MED SALES

Canopy reported REC sales down slightly in Q3, compared with its sales in Q2, which ended just after legalizationose last two weeks were the first of legalization. At the same time, the company posted a net loss attributable to shareholders of $335.6M, up from $61.5M one year ago. The loss was three times greater than analysts had expected.
CBC Business

Quick Hits

  1. Canopy said it will launch beverages and edibles in December, but will begin with a few markets and a smaller line of offerings to begin with.
    CTV News
  2. Analysts in the American food industry note the sector has been slow to make deals with Canadian LPs ahead of edibles/beverages legalization this fall.
    Food Dive