Canopy, Uh, Fudged Some Numbers
ceo.ca/@newswire/canopy-growth-corporation-fi...Posted Feb 21, 2019, 4:35 AM UTC
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ceo.ca
"sorry guys I was high"
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Exactly what I thought when I read the line. I’m going to say this also isn’t the last time a Stoner fucks up a spreadsheet for a mj company.
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Canopy is a bubble
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They’re all a bubble.
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The numbers were correct in the quarterly but in the 9 month they added them wrong. But yeah they're still overvalued, buy aphria, trst and ogi
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« This pile of trash was exposed as a pile of trash... it’s fine though you can buy these other piles of trash instead! »
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ogi, aphria, trst will have 20 PE by end of year, canopy burns 150 million a quarter on selling a bunch of mids. demand is still outpacing supply and is expected to do so for 3 years, so the next year or two, i wouldnt call them piles of trash
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ACB?
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The troops are smoking it in high end classified special forces helicopters.
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Why anyone would buy this stock when you could buy Micron is beyond me
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I just broke even at MU by averaging down. Feels bad/good!
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May as well have cited pornhub and redtube. Your source is ass.
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I was just on r/nsfw_gifs actually, but don't worry I didn't blow a load cause I'm too worried about all my weed positions
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[deleted]
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you mean a company that cited 185m of revenue in untraceable, unidentified "other" investments? I am utterly shocked
Was this on the 10k?
On the most recent 10-Q. Note that 10-Qs are not audited, while 10-Ks are.
https://www.reddit.com/r/weedstocks/comments/aqrhu4/canopy_posts_83m_in_net_revenue_and_75m_in_net/
"Operating expenses are 169M, they have a positive net income because of 235M in "Other income", of which only 18.6M is interest income, 185M is "Fair value changes on financial liabilities designated as FVTPL"."
FVTPL means "fair value (changes) through profit or loss", specifically through the change in value of derivatives. I can't find any definition of what FVTPL specifically refers to in regards to Canopy's finances. For all we know, it could represent profit through buying a fuckton of options, n'est-ce pas?
Also can result from equity cross holdings. ACB took a hit charge this way as well in the most recent q.