Canopy Growth Stock Jumps 10% on Earnings

Canopy Growth (TSX:WEED)(NYSE:CGC) had a major share boost on Feb. 9 after the company reported a smaller third-quarter loss. Canopy Stock seems to finally see some positive movement after huge cost cuts in the last year.

Canopy Growth stock reported a net loss of $115.5 million compared with $829.3 million the year before.
Sales fell by 8% year over year, affecting the company’s net revenue.
The loss amounted to $0.28 per diluted share compared to a loss of $2.43 in 2020.

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