Canopy Growth earnings (NYSE:CGC) are being released later today and CGC stock took a slight hit in anticipation of the company’s results, which are expected to produce a deeper loss than what the company posted during the year-ago quarter.
The Canadian cannabis producer is projected to bring in a loss of about 15 Canadian cents per share, or 20 cents in U.S. dollars, which is wider than what the company posted in losses during its year-ago quarter. Its sales are slated to increase greatly to $66 million, roughly 88 million in Canadian dollars.
Canaccord Genuity analyst said last week that he estimated the company controlled the largest piece of the recreational marijuana market north of the border. He based this estimate from product orders on the country’s provinces and its retail presence.
Recreational marijuana legal sales started in Canada last October.
CGC stock fell 0.8% after the bell on Thursday. Shares were up 0.2% during regular trading hours.