Cannabis
BusinessReutersCanopy Growth CEO David Klein to retire in March
Klein was appointed as Canopy Growth's chairman when the then co-CEO and founder Bruce Linton was fired in 2019. Canopy Growth said it is in the process of securing a search firm to initiate a comprehensive CEO selection process.
- BusinessYahoo Finance Video
E.l.f., Canopy Growth drop while Nikola jumps: Earnings movers
Shares of e.l.f. beauty (ELF) are dropping despite its Q1 results beating expectations on both the top and bottom lines. The company's full-year guidance disappointed though, with ebeauty giant warning that transportation costs could be a headwind for the company Shares of Canopy Growth (CGC) are also dropping after the company posted a wider-than-expected loss and missing revenue expectations in the first quarter. However, the company was able to trim some costs in the quarter. Nikola Motor (NKLA) shares are rising after the company beat second quarter revenue expectations, reporting the strongest top line in the history of the company. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Nicholas Jacobino
BusinessReutersCanopy Growth posts smaller-than-expected core loss as costs drop
Its U.S.-listed shares were up 3.3% at $7.15 in premarket trading. Canopy Growth's quarterly operating expenses fell 23.7% to C$52.1 million ($37.92 million) from a year ago. Revenue from its Canadian medical cannabis business rose 20.3% to C$18.8 million in the quarter ended June 30.
