Weekly Cannabis Stock News: Canopy Growth Makes a Strategic Retreat

By Eric Volkman

These are difficult times for any company. They are especially challenging for marijuana businesses, many of which were losing money habitually and struggling to stay afloat well before the coronavirus hit. Still, it was a bit unnerving to witness the save-the-ship efforts undertaken by Canopy Growth and Aurora last week.  

Canopy announced a set of restructuring measures, which basically consist of shutting down certain operations in various corners of the world where it’s active. The lights will go out on its facilities in South Africa and the tiny nation it surrounds, Lesotho, as well as other growth/production assets in Colombia, the U.S. (a hemp farm it operates in upstate New York), and its native Canada (an indoor production facility in Saskatchewan).

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