Benchmark analysts on Monday reiterated their sell rating on Canopy Growth Corp. as it burns cash at a rate that’s more “intense than a midnight blaze” while TD Cowen sounded a more positive tone on improved gross margins at the Canadian cannabis company.
Benchmark analyst Mike Hickey said Canopy Growth Corp.’s CGC CA:WEED third-quarter results released Thursday revealed “severe cash flow deficits” and decreasing revenues in its Canadian cannabis business.
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