Why Canopy Growth Stock Crashed 10% on Thursday
CGCCanopy Growth(CGC) The Motley Fool·2024-06-07 00:41

Canopy Growth can't make money selling cannabis -- so it's selling shares instead.Canadian cannabis company Canopy Growth (CGC -8.71%) tumbled 9.8% through 11:55 a.m. ET Thursday after announcing plans to create and sell $250 million new Canopy shares at whatever the market price is when the sales occur.Precisely when such sales will occur "will be determined in the Company's sole discretion." But management might want to wait a bit before selling -- because if it sells right now, it'll be getting 8% less m ...