Canopy Growth unveils new cannabis beverage flavors

SMITHS FALLS, ON - Canopy Growth (NASDAQ:CGC) Corporation (TSX: WEED) (NASDAQ: CGC), a leader in the cannabis industry with a market capitalization of $264 million, announced the addition of Rocket Root Beer and Charged Cream Soda to its Deep Space Propulsion beverage range. These new flavors join existing options Blue Sourberry and Altitude Lemon Lime, enhancing the company’s portfolio in the high-potency cannabis beverage category. According to InvestingPro, the company faces significant financial challenges with negative EBITDA of $35.2 million in the last twelve months.

Each 355ml can contains 10mg of THC, 10mg of CBG, and under 30mg of natural caffeine, balancing bold taste with the effects consumers anticipate from the Deep Space brand. Rocket Root Beer offers a rich flavor with a classic bite, while Charged Cream Soda provides a vanilla cream taste. These beverages are now available to Canadian consumers at licensed cannabis retailers and through the Spectrum Therapeutics online store for medical patients. Get deeper insights into Canopy Growth’s financial health and 12+ additional ProTips with InvestingPro.

Dave Paterson, President of Canopy Growth in Canada, emphasized the company’s commitment to flavor innovation and the delivery of a premium beverage experience. The launch of the new flavors aims to solidify Canopy Growth’s position in the infused beverage market, even as the company’s stock trades near its 52-week low of $1.75, with a current price of $1.79.

Canopy Growth, known for its diverse product offerings and vaporization devices, continues to serve medical cannabis patients internationally, with operations in Canada, Germany, Poland, and Australia. While maintaining a healthy current ratio of 3.52, the company carries a total debt of $341 million. The company is also exploring the U.S. THC market through Canopy USA, which holds interests in Acreage Holdings (OTC:ACRGF), Wana Brands, and Jetty Extracts.

The information in this article is based on a press release statement from Canopy Growth Corporation.

In other recent news, Canopy Growth has been the focus of several key developments. Roth/MKM has maintained a positive stance on Canopy Growth shares, despite reducing the price target to C$10 from the previous C$15. This adjustment followed the recent earnings report from Aurora Cannabis (NASDAQ:ACB), which set a precedent for Canopy Growth’s operational performance. Canopy Growth’s adjusted EBITDA is nearing a break-even point, a marked improvement from the C$400 million EBITDA losses reported in the fiscal year 2022.

In addition to this, Canopy Growth has registered common shares for resale, according to a prospectus supplement filed with the Securities and Exchange Commission. The document indicates that an aggregate of 7,631,637 common shares may be sold from time to time by the identified securityholders, providing flexibility for future sales.

Finally, the imposition of a 25% tariff on Canada by President Donald Trump has raised concerns about increased costs for Canadian cannabis operators, including Canopy Growth. The tariffs could significantly impact their export business, particularly in markets where they have been making inroads against domestic producers. These are recent developments that investors should keep an eye on.

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