Canopy Growth Shares Slump After Q4 Earnings; Canadian Pot Sales Slow

shares were indicated sharply lower in pre-market trading Friday after the Canadian cannabis group posted a wider-than-expected fourth quarter loss and said recreational sales slowed from the previous three month period. Canopy Growth said its loss for the three months ending in March came in at C$0.98 per share, well shy of the C$0.32 loss expected by analysts that cover the cannabis growing group, taking its full-year loss to C$670 million ($507.87 million). Group revenues, however, rose 191% to C$226.3 million for the full year, the company said, with the fourth quarter tally coming in at $94.1 million, just ahead of the Street’s C$92.6 million forecast.