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The bulk of those sales came from dried cannabis sold in the domestic recreational market, which yielded the company $60.8 million in revenue.Short sellers set their sights on Canopy Growth, cut Aphria positionsCanopy’s global ambitions may define search for Linton successorBruce Linton’s firing signals it is time for the cannabis industry to start deliveringCanopy harvested 40,960 kilograms of cannabis this quarter, an 183 per cent increase from the first three months of 2019, and a number that the company said exceeded its expectations.The company said 16 per cent of its total recreational cannabis revenue this quarter came from higher margin pre rolled cannabis products.Adjusted EBITDA was a loss of $92 million, a slight improvement from the $97.7 million loss the company posted in its previous quarter. Canopy attributed some of that loss to an investment the expansion of its hemp facility in New York.2020 is going to be another exciting time for the cannabis industry as we close in on the launch of new product formats, said interim CEO Mark Zekulin, who is leading the company until a permanent replacement is found. Customers what we been working on behind the scenes to prepare for the next wave of products coming later this year, he said.believe that falling recreational revenues could damage Canopy relative positioning especially as Aurora pre release for the June quarter suggests significant growth in the recreational market, wrote Royal Bank of Canada analyst Douglas Miehm in a preview of Canopy earnings.
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