Canopy Growth Corp. (CGC) reported earnings on Wed 14 Nov 18 (b/o)

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** charts after earnings **

The Canada-based cannabis company reported a wider fiscal second-quarter loss and revenue that rose less than expected. The net loss for the quarter to Sept. 30 was C$330.61 million, or $1.52 a share, after a loss of C$1.61 million, or 1 cent a share in the same period a year ago. The results included non-cash share-compensation expenses, fair value changes on financial assets and liabilities and other non-cash expenses which added C$115.7 million, or 52 cents a share, to the net loss.

Revenue rose 33% to C$23.3 million, below the FactSet consensus of three analysts of C$60.0 million. Sales of oils represented 34% of product revenue, compared with 18% a year ago. Kilograms of cannabis harvested jumped 265% to 15,127, while kilograms sold increased 9% to 2,197 and the average selling price per gram grew 24% to C$9.87. After the recreational cannabis was legalized in Canada, the company made only limited "test" shipments of C$700,000. Active registered patients rose 34% to 84,400. The stock has run up 44% over the past three months through Tuesday, while the ETFMG Alternative Harvest ETF (MJ) has climbed 19.5% and the S&P 500 (SPX) has slipped 3.5%.