Canopy Growth will today release its Q1 2019 results for the period ending June 30.
Price targets recently called by analysts covering the company range from a high of $48 per-share to a low of $33.
Here’s what’s happened since their last quarterly update:
Stock Split. On July 30, Canopy got shareholder permission to move ahead with a stock split (two-for-one or three-for-one) at the sole discretion of the board.
Canngrow. The US$750,000 deal to buy out Cannagrow’s 15% interest in Spectra gave Canopy full ownership, with Spectra becoming a wholly owned subsidiary.
Spectrum Cannabis Chile. Last week, Canopy put a stamp on the Latin American market with a deal to take more of a stake in its Chilean entity, Spectrum Cannabis Chile.
Canopy Health Innovations. On August 8, the company captured attention (and hearts) with its news of approval from the Veterinary Drug Directorate of Health Canada regarding the potential of cannabis-derived CBD to treat anxiety in certain animals.
Tweed. On July 5, Canopy acquired the remaining 33% stake of its joint venture with BC Tweed, bringing together two of the largest federally licensed cannabis facilities in the world into full Canopy Growth ownership.
Serres Vert Cannabis. Canopy completed a three-year conditional supply agreement with the Société des alcools du Québec (“SAQ”) for 12,000 kgs of cannabis products.\
Saskatchewan Liquor & Gaming. The company was selected by the Saskatchewan Liquor and Gaming Authority to apply for five cannabis retail permits and operate an online store serving the entire province.
BC Liquor Distribution. On July 11 Canopy announced a memorandum of understanding with the BC Liquor Distribution Branch to supply approximately 5,700 kilograms of cannabis products in the first from October 2018 to October 2019.
Physician program. Announced this past Friday, a new program that links Canadian physicians with highly knowledgable colleagues in the cannabis field will provide peer-to-peer support on a case-by-case basis. The Catalyst Peer Mentorship program aims to connect with medical doctors who are not comfortable prescribing cannabis as a treatment option.
One of the corporate risks identified in Canopy’s Q4 Management Discussion and Analysis is that the cannabis industry is highly dependent on consumer perception about the safety, efficacy and quality of the cannabis produced.
The MD&A stated that: “Consumer perception of the Company’s products can be significantly influenced by scientific research or findings, regulatory investigations, litigation, media attention and other publicity regarding the consumption of cannabis products.”
“There can be no assurance that future scientific research, findings, regulatory proceedings, litigation, media attention or other research findings or publicity will be favourable to the medical cannabis market or any product, or consistent with earlier publicity.”