The cannabis sector hasn’t been a favorite among investors in recent months, but marijuana company Canopy Growth were up 13.5% and 9.6%, respectively.
While Canopy CEO David Klein said the company was “beginning to stabilize our Canadian business,” it was its vape and drinks businesses that helped in this quarter.
Canopy said its global cannabis revenue dropped 20% year over year, but sales of its Biosteel sports hydration products soared 130%.
The company said it is working to improve performance in its core Canadian cannabis business, however.
While Sundial and Aurora stocks moved in sympathy with Canopy Growth shares today, both will have to satisfy investors by showing improvements on their own for longer-term gains.
Aurora has had its own struggles, and investors will look to its second-quarter fiscal-year 2022 financial report tomorrow after the market closes for an update.